Real Estate Talks

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Regards
B. Vattoy
www.relocationbc.com

Wow!

Standouts to me are:
South Burnaby detached up 7% in one month! That's over $100,000 price increase in a month.
Tsawassen detached up 41% in one year! $350,000 price increase in a year.
Lower mainland detached up 30% year over year!

I keep thinking prices can't go any higher but then they do and at a faster % increase than before. What's next? 25 - 30% price increases per year is considered normal?

Can anyone deny that we are the money laundering capital of the world.

Unbelievably, this year might look at lot like last year if listings remain at historic lows...and foreign buyers paying "whatever it takes" to secure their desired property.
Price surge arounf Nov and Dec when listings are most scant

Unbelievably, this year might look at lot like last year if listings remain at historic lows...and foreign buyers paying "whatever it takes" to secure their desired property.
Price surge arounf Nov and Dec when listings are most scant

Funny, we haven't heard from G-eyesore lately, nor his mocking of your (2?!) Million dollar shack by the expressway...

Unbelievably, this year might look at lot like last year if listings remain at historic lows...and foreign buyers paying "whatever it takes" to secure their desired property.
Price surge arounf Nov and Dec when listings are most scant

Funny, we haven't heard from G-eyesore lately, nor his mocking of your (2?!) Million dollar shack by the expressway...

I'm still here, I just miss Whipmaster.

I'm even more amazed at what people are paying for run down old crack shacks in the outer reaches of scruffy areas in the wrong end of town. Buying for lot value without consideration for location seems crazy enough to me, but getting mortgaged to the eyeballs to live long term in a poorly located rathole is a choice which leaves me bewildered, particularly when the buyer then greets continued market insanity with gloats about paper profits rather than lamenting the way that liveable homes in good neighbourhoods move further and further beyond his grasp. What's the point of taking on massive risk by getting a foot on the lowest rung of the ladder when the second rung has moved so far out of reach?

Currently I'm somewhat concerned myself about having too much skin in the game in a desirable neighbourhood but I'm old and have no pressing need to cash out, although if I was younger I probably would have already dumped everything. I do take comfort in having significantly reduced my RE holdings a few years ago at what I recognized as a ridiculous profit. Yes, I know I missed the top with that disposition but trying to catch the market top exposes one to the dramatically increasing risk of being caught long on RE when the bubble finally and dramatically bursts.

Or do you subscribe to the quaint notion that because this this bubble has now been inflated so much further than anybody guessed, that is proof that it can never burst?

Ladies and gentlemen place your bets, the clock is ticking.

Unbelievably, this year might look at lot like last year if listings remain at historic lows...and foreign buyers paying "whatever it takes" to secure their desired property.
Price surge arounf Nov and Dec when listings are most scant

Its considered difficult for challenged individuals to understand that things are different here. People other than renters who have envy know that it is a tax free investment when you sell if you live in it. Its better to buy a so called poophole tear down than playing with penny stocks and the like

What we are seeing is a one-time cash injection. It is unclear locals have figured this out. What are the chances the money will find its way out of BC as quick as it came in? 1.

Unbelievably, this year might look at lot like last year if listings remain at historic lows...and foreign buyers paying "whatever it takes" to secure their desired property.
Price surge arounf Nov and Dec when listings are most scant

Its considered difficult for challenged individuals to understand that things are different here. People other than renters who have envy know that it is a tax free investment when you sell if you live in it. Its better to buy a so called poophole tear down than playing with penny stocks and the like

I added the bold underline above.

Yes, I can understand that "challenged individuals" might think a poophole tear downs or penny stocks are their only options. Sad.

"It's different here" and "this time it's different" are two of my favourite indicators of naïveté.

What we are seeing is a one-time cash injection. It is unclear locals have figured this out. What are the chances the money will find its way out of BC as quick as it came in? 1.

+1

But, but, doesn't "hot money" always stay put???

What we are seeing is a one-time cash injection. It is unclear locals have figured this out. What are the chances the money will find its way out of BC as quick as it came in? 1.

even the challenged individuals say the money stays in the same place

Unbelievably, this year might look at lot like last year if listings remain at historic lows...and foreign buyers paying "whatever it takes" to secure their desired property.
Price surge arounf Nov and Dec when listings are most scant

Funny, we haven't heard from G-eyesore lately, nor his mocking of your (2?!) Million dollar shack by the expressway...

The 'in' thing, urban that is to want something that others have that you dont have, hence the envy. Its considered unethical as well to allow anyone around you to gamble on the stock market, especially with all the taxes you'll have to pay. better to buy, what is known in the urban sense as a tear down

I suspect the foreign buying runs much deeper that even the most astute suspect.
Everything on the west side except Marpole.
Everything north (notwithstanding Fraserview) of 49th ave on the east side if the lot is larger than std 33x122.
About Fraserview...prices levelled out there. Could it be that HAM stopped buying there?

What we are seeing is a one-time cash injection. It is unclear locals have figured this out. What are the chances the money will find its way out of BC as quick as it came in? 1.

Chances? Close to zero.

This isn't investment money that can be brought back offshore, this is money laundering.

These funds wont be repatriated - not for failing business back home, and not certainly not because China asks for it.

You might know "that" it's happening but you seem to not understand the "why".
Once you know the answer you'll be able to see that this so called "one time injection" will go on long after you and I are gone from this world.

You're trying to coax the butterfly back into it's cocoon.

What we are seeing is a one-time cash injection. It is unclear locals have figured this out. What are the chances the money will find its way out of BC as quick as it came in? 1.

You might know "that" it's happening but you seem to not understand the "why".
Once you know the answer you'll be able to see that this so called "one time injection" will go on long after you and I are gone from this world.

You're trying to coax the butterfly back into it's cocoon.

What we are seeing is a one-time cash injection. It is unclear locals have figured this out. What are the chances the money will find its way out of BC as quick as it came in? 1.

This is what I think. That the hot money flowing out from China is undependable. The flows will accelerate when the government cracks down. It will slow when the government turns its attention elsewhere. In any case, the amount of hot money is finite. The important point is that as the economy modernizes, the amount of undeclared money will dwindle because most money flows will be documented.

At some punt, the government may allow unrestricted capital flow for its citizens. But, there won't happen for a while longer.

Get it?