This is likely capital controls in China starting to bite. I expect the prices to stay sticky for the better part of a year until some motivated sellers get desperate. If that happens the luxury market will start putting pressure on the lower rungs of the property ladder.

Haha the picture of “a luxury home in Vancouver” says it all.

Try to spot the luxury home in the picture — seems to be blocked by a modest old house in a boring neighbourhood.

I agree with this. Foreigners are definitely the majority of marginal buyers. They escalate prices by overpaying on the way up, and will undoubtedly accelerate the crash by slashing prices below market on the way down. Locals are more stingy on the buying or selling side (mostly out of necessity because many of them are flat broke). In a crash politicians will have wished they banned foreign speculators entirely. They have no use for our real estate other than capital appreciation, and won’t hesitate to have a fire sale to liquidate their holdings in a crisis.

Last paragraph. Sing it from the hills. One dude buys one BTC for $20k: This action causes the “currency” to be “valued” at $335B and instantly generates multiple “billionaires” and thousands of “millionaires”. BTC forums explode with confirmation bias. All based on a single action by a single person on a single day. This does not mean that all BTC could be sold for that much. It does not mean that ANY BTC could be sold for that much. It does not mean that anyone just became a billionaire. Recent sale prices of similar items in a similar market are a useful measure of theoretical value but not to be confused with a bank statement. There’s a reason your appraiser only guarantees his appraisal up to the cost of his fee — if end up losing half a million on… Read more »

Unaffordable housing, rampant homelessness, shady land deals, worthless bike lanes… seems like he accomplished a lot to me. Also don’t forget creating the empty home tax and airbnb regulation, with no real plan on how to ensure compliance or more money to fund enforcement. In my mind he screwed over Vancouverites extremely efficiently.

I think this is one of the most interesting questions of our time and it gets almost zero attention in the media, our politicians and economists. I have thought a lot about this in the last ten years. Nobody knows the implications of our 500 year low interest rates and massive debt to GDP ratio. I haven’t read a convincing case either way saying it’s inevitable we’re going to crash or that we can continue economic growth. All things being equal, I think you have to bet on things turning out because we’ve rigged the financial system to that outcome. I think the biggest risk is past us which was the 2009 crash. The risk there was that the Fed was caught off guard and they could have reacted too slowly. But luckily we had a student of the Great… Read more »

Agree with everything you are saying but if we look at Japan as an example they had a lot of false starts over the years and were forced back into ZIRP. How can we be sure this is truly the end. I can see the FED over-tightening, followed by recession, followed by ZIRP, in short order. Its def a possibility.

What is wrong with fuking Norwegians, they are like a plague. Whatever they get close to, it goes down to shitter.

Bookmark this page, it’s a wonderful summary of the locust’s favorite scams these fucking assholes commit in our country.

The Titanic metaphor continues.

Is Gregor a first class passenger who is stepping lithely into the private lifeboat that behooves his station? (While the peasants and poors are told that there is no reason to worry, natch.)

Or is it the rats that usually leave first because they know it’s sinking before anyone else?

It’s pretty rare in Canada that we give politicians more than 10 years as a leader. The list of people who head into an election looking popular, but only to lose, is quite long. I think this is widely accepted now and he can see a loss coming if he were to run. There are enough issues that the electorate is angry about that some will have traction.

There is no point in ruining your brand if you have greater aspirations, especially with the Provincial minority situation.

Vancouver is the Titanic

And we are all Jack.

I think Trump will do it for negotiating clout and just to say he did it. I think the price for Mexico coming back will be paying for the Wall.

I think our Dollar heads to 0.75 here, but higher rates will slow that fall.

Anyone else involved in an import/export with the US? Shipping across the border has been more of a pain-in-the-ass since Trump was elected. Maybe just a coincidence?

Mexico will leave NAFTA talks if Trump triggers process to withdraw

https://ca.investing.com/news/economy-news/update-1mexico-will-leave-nafta-talks-if-trump-triggers-process-to-withdraw-952011

Meanwhile, Turd will consult with an equal number of men and women on what to do next.

Best Quality Auto on Kingsway also told me that if I buy a 2006 Accord it will be an excellent investment and that I should not miss this opportunity to get in on the ground floor.

There’s always free cheese in a mousetrap.

“You should keep buying real estate in 2018.”
– A Self Interested, Wealthy Scumbag

I think it’s going to pass.

The GreeNDP rigged the vote by making the threshold 50%+1 and keeping turnout low by having the vote during municipal elections.

I think if the NDP are smart, they’ll sabotage it somehow but so far everything they have done is helping it pass. It’s a head scratcher.

Unreal. When I read that article it’s scary how entitled he thinks he is to do what he wants. Canada be damned! Talk about a culture clash!

Banana? Never heard that term before. Is that supposed to imply yellow on the outside white on the inside? i wonder how well it would go down if I used that term…