Tag Archives: USA

Friday Free-for-all!

It’s that time of the week again! This is when we do our regular end of the week news round-up and open topic discussion thread for the weekend. Here are a few stories to kick off the chat:

Vancouver home resales plummet
Young families fleeing BC
CMHC forecasts moderate slowdown
Canadian prices falling steadily
Canadians invade Costco
Home inspectors regulated
US market recovering?

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 that time of the week again! Friday is here and the weekend draws nigh!

So lets do our regular end of the week news round up and open topic discussion thread for the weekend.

Here are a few recent links to kick off the chat:

19,000 Listings Party!
Vancouver home sales hit 10 year low
Updated inventory graph, next leg up!
OSFI Relent on tougher rules
Your own private BC island?
Investors shy away from Genworth
US prices down 42% from peak?
Sales great in interior says BCREA
The moving-to-America experiment
Boomers double-down on real estate
Canadas mobility problem
VCI comment signal to noise graph

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

Also! For a short time we tried opening up registration on the VancouverPeak forums, but were immediately inundated with spam registrations. So we’re back to invite only for now. There are ten invite codes at the end of this post if you’re interested in registering for an account there. The main advantages of a VancouverPeak account are that you can upload images, xls files, etc to share data or analysis.

Here are those codes, you can use them at this registration link, first come first served.

Used codes removed and replaced with fresh codes Saturday Morning 9:19 am:

796p-nb1r-p48n
9n3p-f5od-5xg3
cnfn-xwc1-a1ap
nabi-g5uv-4ouk
fmtk-z3xg-1ifx
zoct-oubu-2cnh
mys4-b2cs-20rx
w8pe-g78i-g3c8
ozgp-gf0g-3ck1
vfsn-vnl9-6wax

Days of ultra-cheap money coming to an end

..At least that’s what Mark Carney and other Bank of Canada officials have said according to this article, yet they’re refraining from being more specific.

Meanwhile the Organization for Economic and Co-operative Development (OECD) is urging Canada to start raising interest rates in the fall and keep on raising them to stop an inflating housing bubble and reign in inflation.

The OECD, a high-powered economic research group backed by contributions from its 34 rich country members, offers a scenario: An increase in the benchmark rate of a quarter of a percentage point in the autumn, and similar increases each quarter through to the end of next year, leaving the benchmark overnight target at 2.25 per cent.

That still would be low by historical standards, yet, according to the OECD, likely a big enough increase to cause prospective homeowners to think twice before buying at current inflated prices. However, the OECD’s recommendation comes with a risk.

The Federal Reserve Board has made a conditional pledge to leave U.S. rates extremely low until the end of 2014. Following the OECD’s path could create an unprecedented spread between Canadian and U.S. interest rates, which would put upward pressure on a Canadian dollar that many say already is too strong.

Oh, and the OECD made this same recommendation a year ago and was ignored. So I wonder how Carney intends to bring the days of ultra-cheap money to an end?

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!