Canadians are most likely non-resident speculators in the US

The National Association of Realtors (NAR) in the US has just released data on foreign buyers. Noticeably missing from the top five list is China, but at the very top of the top 5 US markets there’s one country: Canada.

That’s right, Canadians are the most likely foreign buyer in the US.

NAR stats show that Canadian and UK buyers are the most likely to buy property for occasional use. Going back to 2016, 80% of Canadian, and 61% of UK buyers were non-resident buyers. To contrast, only 39% of Chinese buyers were non-resident. This means Canadian and UK citizens are more likely to buy property and not move into it. Whereas 61% of Chinese buyers are likely to buy property for relocation.

To understand how impressive this statistic is, you have to look at the relative number of people. China has over 1.317 billion people, and Chinese citizens purchased 29,195 US homes in 2016. That results in 11,386 US homes sold to Chinese citizens for investment or occasional use. To contrast, Canada has 35.85 million people, and Canadian citizens bought 26,851 US homes in 2016. Since 80% of Canadians are non-resident, that’s 21,480 homes for investment or occasional use bought by Canadians just last year.

You should be ashamed of yourselves.

Read the full article here.

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Abdul Lahazi
Guest
Abdul Lahazi

Coming from lying realtors, I don’t believe this article anyways and even if it is true the Chinese have only recently departed the scene due to their newly imposed currency restrictions. They will be back in full force just as soon as those same restrictions are loosened.

bestplaceonearth
Guest
bestplaceonearth

“You should be ashamed of yourselves.”

why? you are landless, it doesn’t mean others have to be.

Combat roach
Guest
Combat roach

Those are fake Canadians of the certain origin. Scumbags have developed sophisticated schemes to further move dirty money that got initially laundered in Canada.

Bestplaceonearth
Guest
Bestplaceonearth

Full of hatred and anger – not healthy and a burden on Canadian healthcare​ system.

Sebastien
Guest
Sebastien

That’s a good theory. Here’s the sequence:

1. HAM moves to Canada and buys real estate
2. HAM gets PR and then Canadian Citizenship.
3. HAM uses NAFTA to buy real estate in the US easier.
4. HAM births an anchor baby in the United States and that baby gets automatic citizenship.

I’d be curious to see data about the “Canadian” buyers in the U.S. have a second passport.

Shut It Down Already
Guest
Shut It Down Already

How does step 3 work?

Alice
Guest
Alice

Except the Canadian numbers are much higher *before* HAM started showing up in Canada. The numbers actually spike right around 2008, when us Canadians started getting cheap money for financing.

backwardsevolution
Guest
backwardsevolution

“I’d be curious to see data about the “Canadian” buyers in the U.S. have a second passport.”

These buyers would be predominantly Chinese-Canadians. If we had the data, I’d bet money that this is what it would show.

Hyper-mega-Bull
Member
Hyper-mega-Bull

Remember China’s famous “elevated bus”? Turns out it was all a scam. Anyone surprised?

http://money.cnn.com/2016/12/19/technology/china-elevated-bus-teb/

Best place on meth
Guest
Best place on meth
Abdul Lahazi
Guest
Abdul Lahazi

Critics have pointed out that BSB’s construction company has never built anything taller than 30 storeys before, but the builders seem unworried.

Just can’t make this stuff up…

Best place on meth
Guest
Best place on meth

I couldn’t care less who’s buying homes in the US.

I care about who’s buying homes in metro Vancouver.

Shut It Down Already
Guest
Shut It Down Already

Nice evasion.

Burnaby
Guest
Burnaby

Tax evasion?

Best place on meth
Guest
Best place on meth

You’re as racist as that sea lion.

Just me
Guest
Just me

Brilliant!

Shut It Down Already
Guest
Shut It Down Already

Just “following the money”.

Right.

Just me
Guest
Just me

You are a sore loser.

Was that joke racist as well? Seriously? Do you have nightmares about your family, friends and work colleagues being racist?

For one more time: This is about money, not about race. Accept it and stop chasing ghosts.

Shut It Down Already
Guest
Shut It Down Already

I’ll accept it when you accept the data that proves how wrong you are. You know, the data that says most of the money is being spent by locals – like your friends – who think real estate is a retirement plan.

But you won’t.

Shut It Down Already
Guest
Shut It Down Already

Also, out of interest, what did I lose?

Best place on meth
Guest
Best place on meth

I’ve just been corrected by a worthless, race-baiting, leftist snowflake.

The sea lion was also a misogynist.

And possibly a pedophile.

Shut It Down Already
Guest
Shut It Down Already

It’s quite funny how you fuckwits all band together. Must protect the spineless queen bee!

ibought3
Member
ibought3

Racist sea lion. Good one

Best place on meth
Guest
Best place on meth

Absentee ballots so far going NDP’s way and the recount in Comox has added another 4 votes to their slim lead.

Also, Richmond-Queensborough has tightened up considerably with more absentee ballots to come, but still unlikely to switch to NDP.

http://www.cbc.ca/news/canada/british-columbia/ndp-lead-grows-to-13-votes-following-recount-in-courtenay-comox-1.4126840

At the end on Monday, the counts were complete in 16 ridings, and approximately 60,000 of the 179,000 absentee ballots cast had been counted in total. While no ridings have switched hands, the B.C. Liberal Party’s total vote lead over the NDP shrunk from 17,676 to 14,514.

Best place on meth
Guest
Best place on meth

‘Unbelievable’: Dozens swarm dock where sea lion grabbed girl, despite warnings

http://www.cbc.ca/news/canada/british-columbia/sea-lion-video-girl-steveston-1.4126825

Hey! Let’s go taunt that wild animal that almost killed a small child the last time it was taunted!

bullwhip29
Guest
bullwhip29

i wonder how long it takes for someone to claim the darwin award by jumping into the water to take a selfie OR perhaps trying to capitalise on this by setting up a kiosk to sell animal feed by the bag?

and to the person who claimed the signs posted at the steveston dock were in both english and chinese…well, they are NOT which gives all these morons a convenient excuse should another mindboggling snatch and grab occur.

Abdul Lahazi
Guest
Abdul Lahazi

This is for SIDA:
Here is the prime example of typical Chinese lemming bahaviour of clueless stupidity with a complete disregard for nature or anything to do with common sense. Chinese have to be the dumbest people on the planet.

Combat roach
Guest
Combat roach

It wouldn’t be surprising if those sea lion’s Chinese sue the city of Richmond or BC for the cruel, discriminating attack done by a local mammal instead of paying a hefty fine as other individuals would have to do when they get caught with pants down? Shame, maybe prosecuting them would be racist?

history
Guest
history

1, 2,
a checka one, two,
1,2,
a checka one two
1,2,

Get Down Everybody

history
Guest
history
Doomcouver
Guest
Doomcouver

A Canadian’s insatiable appetite for speculative real estate purchasing knows no borders.

history
Guest
history

when people leisure travel, they like. to speculate. Whether gambling at casinos or speculating on RE.

I remember traveling to Key West in the late 80s, several homes, empty, owned by West Germans flush with cash from cold war MIC.

Canadians travel to USA progidously, stands to reason they take punts on houses. They plan to travel less, they will tend to dump their American properties…

Doomcouver
Guest
Doomcouver

Normally this would be fine, however most Canadians only have paper wealth and are levered up to their eyeballs to make these speculative “investments”.

patriotz
Member

Historically Canadians have been the largest foreign buyers of US real estate almost every year. In particular after the US bust hit and Canadian prices kept rising Canadians used HELOCS on their own properties to buy US properties. There has been plenty of reporting in the media and talk about forums about this.

There is no need to resort to exotic explanations for something that isn’t news.

history
Guest
history

except to correlate the peak leisure age, 54 with the year the globe went beyond the power growth law in population, 1962.

YVR
Guest
YVR

“Historically Canadians have been the largest foreign buyers of US real estate almost every year.”

I wonder why? Could it be most of our population is a short drive or flight from the US compared to every other country except Mexico requiring significant air travel. More notable is Canadians are the second largest purchasers of Australian real estate. What is up with that? An 18 hour plane ride away.

backwardsevolution
Guest
backwardsevolution

YVR – Chinese-Canadians buying on speculation. I read an article that stated this is what’s happening. New Chinese Canadians are off speculating in other markets, not just here. They’re doing it everywhere.

Abdul Lahazi
Guest
Abdul Lahazi

‘Unbelievable’: Dozens swarm dock where sea lion grabbed girl, despite warnings.

http://www.cbc.ca/news/canada/british-columbia/sea-lion-video-girl-steveston-1.4126825?cmp=rss

Here is the prime example of typical Chinese lemming bahaviour of clueless stupidity with a complete disregard for nature or anything to do with common sense. Chinese have to be the dumbest people on the planet.

Shut It Down Already
Guest
Shut It Down Already

Do you even read the other links before launching yourself at the “post comment” button, you racist little turd?

bullwhip29
Guest
bullwhip29

well in his defence the story over the wknd is that these “tourists” continued to feed and taunt the sea lion and that is the reason he kept hanging around. the new signs posted are in english only. i also wonder if the gm of the harbour authority was trying to appease the richmond locals by suggesting this behaviour was conducted by unsuspecting tourists when in reality most of these folks probably live right here in richmond and were only down there to get a selfie for their social media pages (not to buy fish or seafood)

Abdul Lahazi
Guest
Abdul Lahazi

See above…

bullwhip29
Guest
bullwhip29
Abdul Lahazi
Guest
Abdul Lahazi

Most homeowners would have mortgage trouble if payments rose by more than 10%: poll

https://app.tmxmoney.com/news/cpnews/article?locale=EN&newsid=TB712a&mobile=false

Living on the edge.

Abdul Lahazi
Guest
Abdul Lahazi

A 10 per cent increase in mortgage payments could be the result of as little as a one per cent interest hike.
“When you put it into that context, they’re not really prepared for what is inevitable. Sooner or later, interest rates are going to rise.”

bullwhip29
Guest
bullwhip29

once you add up recent increases in prop taxes, utilities, fuel, insurance premiums etc you are easily at the 10% threshold already

Joe Hindenburg
Guest
Joe Hindenburg

Our economy is hydrogen filled balloon just waiting for a spark.

southseacompany
Member
southseacompany

“Canada Must Deflate Its Housing Bubble. The central bank needs to raise interest rates, and soon.”, Bloomberg
https://www.bloomberg.com/view/articles/2017-05-23/what-canada-should-do-about-its-housing-bubble

“Canada’s housing market offers a case study in a contentious economic issue: If a central bank sees a bubble forming, should it act to deflate it? In this instance, the answer should be a resounding yes.”

“Administrative efforts to curb lending and tax foreign buyers have helped but haven’t solved the problem. That’s largely because extremely low interest rates are still giving people a big incentive to borrow. “

Abdul Lahazi
Guest
Abdul Lahazi

What is the official bullshit inflation rate, around 2% ? Real inflation is obviously much more than 2% but Poloz will not up rates based on real world inflation, just the official measured rate which everyone knows is not reflective of the real world. So here we are; with massive real estate inflation on top of every other type of inflation.

bullwhip29
Guest
bullwhip29

have you checked out your grocery or restaurant bills of late?

Abdul Lahazi
Guest
Abdul Lahazi

Oddly enough, my wife just said yesterday that her produce food bill has dropped quite a bit. She said a cuc that would have cost $1.50 last year is now around 75 cents. IDK how accurate she is on that but there is a noticeable price drop to her.

KickThemOut
Member
KickThemOut

Hmmm…I wonder if it is because she goes through a lot of cuc due to your inability to satisfy her properly?

Abdul Lahazi
Guest
Abdul Lahazi

No, actually I like cucumber sandwiches.

Combat roach
Guest
Combat roach

Watch your language, moron. You were banned before but have the nerve to come back again and litter the blog with your odious garbage.

bullwhip29
Guest
bullwhip29

seasonality aside, groceries cost way more now esp things like meat, seafood, dairy and even veggies. right now certain items might be in season but the prices never seem to drop back to the levels they were at many years ago.

Owen
Member
Owen

I believe headline is 1.6% and core is 1.3% as of last month. If inflation was 10%, cost of living would double about every 7 years, and that’s just not the case. People always think inflation is way higher than it is, largely because they find rising prices more painful than they appreciate falling prices. The statistics are much more reliable than your gut. I agree cauliflower is much more expensive than last year; that’s why I stopped buying cauliflower.

KickThemOut
Member
KickThemOut

Maybe you should go to Stats Canada website and learn how inflation is calculated before you start yelling. You know, if you keep quiet, less people will know just big a moron you are.

Abdul Lahazi
Guest
Abdul Lahazi
Combat roach
Guest
Combat roach

It looks like going against the multiculturalism and tradition. Many might get offended.

“There are some regulations moving throughout the federal level right now. Once those are in place, we would like to be in a position to have wildlife officers fining people for feeding wildlife.”

Remember stickers and plates at swimming pools – “Don’t spit on the floor and urinate in swimming pool”?

KickThemOut
Member
KickThemOut

No I don’t remember those stickers & plates. But I do remember reading about a lot of Abdul’s brothers and cousin not showering and wearing street clothing in European swim pools, and justifying raping young boys in the changes room due to sexual frustration emergency and it’s ok in their faith.

bullwhip29
Guest
bullwhip29

and now we are hearing that “Mr. Lau” is considering suing the student who posted the video and you wonder why many simply despise your people.

Whistler or Bust?
Guest
Whistler or Bust?

That is quite funny. I hope the dumbass wastes his money and tries.

Best place on meth
Guest
Best place on meth

That is despicable but it’s also par for the course for that shameless society.

They’re always trying some bullshit lawsuits that would rob Canadian taxpayers and we keep letting this trash into the country.

Loon
Guest
Loon

Sealion Transient Feeding Underwater (STFU) tax.

bullwhip29
Guest
bullwhip29

Controversial Chinatown rezoning for 12 storey building goes to public meeting
http://vancouversun.com/news/local-news/controversial-chinatown-rezoning-to-go-to-a-public-meeting

>>> if this is not the ultimate example of the pot calling the kettle black, I don’t know what is…

KickThemOut
Member
KickThemOut

Care to explain? Some people are against it, some are for it. Seems like the usual pro development vs I got too much time on my hands and I want to dictate how other people spend their money.
Is it because the article talks about people with Chinese names that you get all giddy and happy that your brain simply stops working?

bullwhip29
Guest
bullwhip29

hey space, i think you should take a nice long moonlit walk on the beach and spare us all the pain and suffering. is that too much to ask for?

Best place on meth
Guest
Best place on meth

Save Chinatown!

Obliterate Richmond!

KickThemOut
Member
KickThemOut

Sign of things to come…as a wise poster already said, learn Mandarin!

LeEco cuts 325 U.S. employees, will focus on Chinese-speakers
https://ca.finance.yahoo.com/news/leeco-cuts-325-u-employees-181100647.html

KickThemOut
Member
KickThemOut

@Abdul – So the Chinese are the stupidest people on Earth eh? And here I thought scamming, thieving, and stealing tens of millions of dollars required intelligence! Man, how stupid must Canadians be to have been conned by the stupidest people on Earth?

And are you actually a Canadian? I don’t think a real Canadian, one with history and heritage in Canada going back generations like my family would have a name like Abdul Lahazi. Sounds more like those ME refugees that are flooding Europe right now. Maybe we need to phone the tip line for Canadian Border Service about you.

Abdul Lahazi
Guest
Abdul Lahazi

Just imagine where those same Chinese would be if they stopped scamming, thieving, and stealing. They have no respect for anyone or anything but themselves and it’s all take take take with them. Stop calling me racist because you don’t agree with I say. It is all facts. Name calling is the sign of a weak mind.

KickThemOut
Member
KickThemOut

So says the guy who does a good chunk of name calling on this site?

And you stand by your point that only the stupidest people on the planet can possibly scam & steal as good as the Chinese? So what does that make people who fell for the Chinese scams & stealing? Stupider than the stupidest people on the planet?

Your intellect is simply amazing and awe inspiring. No wonder you have to been so right about everything, and your wife needs a constant supply of cucs. 🙂

Abdul Lahazi
Guest
Abdul Lahazi

Arguing that someone is smart because they can cheat better than someone else is not a good way to make a point. Are you 10 years old?

Shut It Down Already
Guest
Shut It Down Already

What was that about name calling?

southseacompany
Member
southseacompany

“Total Dollar Volume on Vancouver Real Estate Plunges Year Over Year”, Better Dwelling

http://vancitycondoguide.com/vancouver-buyers-600-million-less-on-real-estate/

“Buyers of Vancouver detached homes spent 49% less this April than they did in April, 2016. That’s nearly $611 million dollars less.”

“Although prices may not appear to be dropping, the total dollar volume is declining and in the detached market the plunge is substantial.”

Just me
Guest
Just me

A good chunk of China money has been constrained to stay at home.
Of course, our resident naysayers will disagree. But the truth is the truth, even if you refuse to accept it..

CBM999
Guest
CBM999

As of noon Pacific time the Liberals are in the lead in Courtenay-Comox by 3 votes. Counting not done yet. This riding could flip the election

kabloona
Member
kabloona

What a bummer…… 4 more years of the Atomic Chipmunk as Premier?
I can’t take it….

😀

squeak
Member
squeak

Probably more young talents will be travelling over the coquihalla come august when still good weather to move out of BC, which I can understand, they want a life, not existing in an over priced moldy dungeon.

Abdul Lahazi
Guest
Abdul Lahazi

and some people don’t vote because they say their vote won’t matter…

bullwhip29
Guest
bullwhip29

many dont vote because they are convinced the system is rotten to the core. given that the recounts are not being televised live, one can safely assume krusty will steal this riding (and maybe a couple of others) and probably has dirt on weaver to leverage the greens into teaming up with her

Combat roach
Guest
Combat roach

Day 2 of B.C. election final count ends with NDP leading by 101 votes in Courtenay-Comox

https://www.google.ca/amp/www.cbc.ca/amp/1.4128494

bullwhip29
Guest
bullwhip29

Family of girl grabbed by sea lion denies trying to feed it
http://www.cbc.ca/news/canada/british-columbia/family-sea-lion-speak-out-1.4128121

“The family of the girl who was grabbed by a sea lion and dragged into the water says they weren’t feeding the marine mammal.”

“The video also portrays the family as tourists, but Lau said they’re residents of Vancouver. ”

“Lau is considering taking legal action against the SFU student who filmed the video and posted it online without the family’s consent.”

>>> my god, you wonder why all the trash talk and what not and then the family speaks out and makes the situation worse…

Abdul Lahazi
Guest
Abdul Lahazi

Taking a video in a public place is not illegal so they would have no case. Same with posting the video on line. The family however could be fined for feeding wildlife which I believe the video shows them doing (or someone said they were doing). They are just butthurt because they can’t figure out how to make some cash from this.

bullwhip29
Guest
bullwhip29

both US and Cdn talk shows are tripping over themselves to land this interview. pretty sad…

bullwhip29
Guest
bullwhip29

Judge orders sale of home in British Properties
http://www.nsnews.com/news/judge-orders-sale-of-home-in-british-properties-1.20156429

Wen Hsien Tsai refused to go through with selling his house after discovering it had been “shadow flipped” twice for a much higher price has been ordered by a judge to complete the property sale, two years after signing the original sale contract.

bullwhip29
Guest
bullwhip29
Combat roach
Guest
Combat roach

Is “Applied Horror” a recognized art movement?

Combat roach
Guest
Combat roach

Why is this dude denied entry in Canada while notorious politburo cadres and other corrupted criminals are more than welcome to come over?

http://vancouversun.com/news/local-news/retired-senior-indian-police-officer-denied-entry-to-canada-at-yvr

paulb
Member

New
446
Price Change
70
Sold
141

TI:8765

http://www.clivestevepaul.com

Best place on meth
Guest
Best place on meth

NDP leads in Comox by 101 votes, only about 600 ballots left to count.

Dave
Member

That looks like a wrap. Very unlikely the Liberals pick up 100 votes with only 600 left to go. Why didn’t Elections BC work the extra hour to count those ballots?

From what I am seeing, the real estate industry isn’t even concerned about the election result. I think they underestimate the risk by a long shot. But that’s consistent with a bubble mentality.

CBM999
Guest
CBM999

I heard that it was 900 left to count, but still. The NDP won the absentee ballots in that riding last election even when the Liberal MLA McRae won so I don’t see this flipping.

Liberals were saying that because the candidate there was the former head of the military base that all his old soldiers would vote for him absentee lol.

If my boss were running I’d definitely vote against him. He’s a dick.

patriotz
Member

The fallacy is assuming that military personnel are more likely to be absentee voters. They’re not, and this should be clear from the results last time, when the NDP did better in the absentee vote than in the regular vote.

The reason in my view why it’s the NDP that does better in the absentee vote is that retirees, who we know support the Liberals strongly, are less likely to vote in absentee polls. Remember someone who votes in a poll in the same riding close to work because they don’t have time to go home to vote is an absentee voter.

Dave
Member

I might also just be organization and how the NDP gets their vote out. It could very well be old people in nursing homes. Yes, they disproportionately vote Liberal, but the NDP could disproportionately influence a lot of absentee voting within their grey haired support base.

The remaining votes will come down to demographics and where those votes were cast. It could swing Liberal, but 100 votes is very unlikely to be made up.

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