Tag Archives: china

Your racism is boring us all

Yes, yes, I know you’re not a racist.

But see the thing is it’s easy to get worked up over perceived issues of unfairness and drift into blaming entire cultures for your woes.  Are there wealthy Chinese assholes buying real estate in Vancouver?  Well yeah.  Are there wealthy assholes from other countries buying real estate?  What about wealthy asshole Canadians?  Uh huh. check and check.

But what does this have to do with the price of that leaky house in east van you’ve got your eye on?  Do you really think the global elite are competing for that unit and pricing you out and that the insane growth in Canadian debt loads and bubble prices across the country is not a factor?  If so you’re the ideal sucker for a real estate marketer.

The fact is that even if you’re on welfare in Canada you’re probably better off than most people in China.  Heck, you’re better off than the majority of people in the world.  But it’s a lot easier to notice that teenager in a Lamborghini than to be thankful for what you’ve got.

Now clearly not everyone agrees that an endless discussion over ‘HAM’ is mind-boggling boring, but if you do please consider down-voting repetitive blame comments and trolls but up voting informative fact filled comments.

For a site without active moderation we’ve been remarkably lucky to have interesting conversations and generous people sharing information and data that is hard to find anywhere else.  Lets try to keep that way.  Our hope is that the community comment rating system can be used by you the reader to shape the discussion away from blaming cultures and down to blaming the real drivers of a housing bubble: speculators, buyers, government and lenders.

 

 

Friday free-for-all!

It’s that time of the week again… Time for our end of the week new round up and open topic discussion thread!  Here are a few recent links to kick off the chat:

Canadians carry stupid debt levels
Canada better off than USA?
Average price to jump this month?
Chinas glut of unsold goods
-(lazy editor, More links to follow)

So what are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent weekend!

Chinese buyers move to the USA

If you’re wondering why we haven’t heard as much about wealthy chinese buyers lately as prices drift down in Vancouver, maybe it’s because they’re moving to the USA.

“California has always been popular with Asian buyers,” he told beyondbrics. “But whereas before it was mainly buyers from Taiwan, Hong Kong and Japan, now we are seeing more mainland buyers visiting.”

Reasons for purchases vary, say those who have dealt with overseas Chinese buyers. Some are buying because they want to emigrate or they have children who will go to school in the US. More and more Chinese millionaires are looking to settle in the US or at least secure residency rights.

 And why would they be buying in the US as opposed to Canada?
Others buy because the numbers add up: the renminbi is relatively strong against the US dollar and property prices are cheap compared to Australia or Canada.
But it’s not supposed to work like that!  Wealthy people aren’t supposed to look for good deals..
Are they?
Read the full article on ft.com

Friday Free-for-all!

It’s the end of another week and that means it’s time for the free-for-all, or regular end of the week news round-up and open topic discussion thread. Here are a few recent links to kick off the chat:

Vancouver housing slows to crawl
Telus Garden sold out?
Maybe not so sold out. 
Inventory growth slows (chart)
Metro van sees sharp sales drop
REBGV Press Release (PDF)
Agent grumpy about bubble talk
Housing bubble sentiment chart
1980’s all over again?
Senators grumpy with Carney
Housing market pumps GDP
Australia down 10%
China’s ‘epic’ property bubble

So what are you seeing out there?  Post your news links, thoughts and anecdotes here and have an excellent weekend!

Friday Free-for-all!

It’s that time of the week again, let’s do our regular end of the week news roundup and open topic discussion thread!  Here are a few recent links to kick off the chat:

Van prices fall for 5th month
Bubble popping changes?
CMHC now handled by OSFI
RBC: Van Vulnerable to correction
Vancouver Price Drop Champs
Vancouver Inventory Chart
Lending change will cause…?
BC Population growth stats
Mark Carney still fretting
Van top 4th hated city?
More than 1 mil US underwater
Former bears call US bottom
Chinas impending crash

So what are you seeing out there?  Post your news links, thoughts and anecdotes here and have an excellent weekend!