Real Estate Talks

As I pointed out, foreign buyers are a small number in metro Vancouver.

"The survey basically asks agents to describe their most recent buyers. For example, 226 realtors sampled in April reported that more than 24 percent of their clients were first-time home buyers.

Another class of almost 24 percent were property owners moving to other, comparable, homes.

In addition, more than 22 percent of buyers were local or domestic investors. Coming in fourth at almost 11 percent were owners of either condos or townhouses who were moving into detached homes. Also, almost six percent of buyers were owners of detached homes who were downsizing to condos.

Foreign investors made up four percent of buyers, according to this latest REBGV survey..."

http://www.straight.com/news/699891/pol ... ate-market

"Australia housing bubble fears make investors nervous about Big Four banks

... "Our house price-to-income ratio now in Australia makes the American housing bubble in the lead up to 2007 look positively moderate," Jonathan Pain, publisher of investment newsletter, The Pain Report, told CNBC's "Street Signs." ... '

http://www.cnbc.com/2016/05/23/australi ... banks.html

australia is a very different animal and is usually where people go if they want a very hot country, and/or couldnt get into Canada

Poll of realtors?
They have no interest in giving you honest answers since they want the party to continue.
Use your head...you dont get these prices from local buyers.
Distracting from the issue is exactly what will prevent changes from happening

Sydney, Melbourne, Perth .. they're all pretty similar to Vancouver, market wise.

Sydney, Melbourne, Perth .. they're all pretty similar to Vancouver, market wise.

No, they aren't.
Those cities dont have an infrastructure of Chinese culture that enable a newcomer such an easy transition to a new country. You live in Vancouver or Richmond you never have to speak Enlish.

Poll of realtors?
They have no interest in giving you honest answers since they want the party to continue.
Use your head...you dont get these prices from local buyers.
Distracting from the issue is exactly what will prevent changes from happening

You sound just like the perma-bears. "The realtors are lying" ... if what they say disagrees with your breakfast.

Sydney, Melbourne, Perth .. they're all pretty similar to Vancouver, market wise.

No, they aren't.
Those cities dont have an infrastructure of Chinese culture that enable a newcomer such an easy transition to a new country. You live in Vancouver or Richmond you never have to speak Enlish.

they also aren't that welcoming of foreigners either

isn't australia the knuckdragging skinhead (meathead) capital of the world?

i know they have infested bali and thailand

Ahem!

So Miami goes ...

"Miami’s Condo Frenzy Ends With Inventory Piling Up in New Towers

... A third of the units in some newly built high-rises are back on the market, though most are listed for more than their owners paid in the pre-construction phase. At the current sales pace, it would take 29 months to sell the 3,397 condominiums available in the downtown area, according to South Florida development tracker CraneSpotters.com.

... Condo purchases from January through April slid 25 percent from a year earlier, while the average price fell 6 percent on a per-square-foot basis, CraneSpotters data show.

“The problem is that investors are no longer buying, and now they’re going to be looking to sell,” said Jack McCabe, a housing consultant based in Deerfield Beach, Florida. “And what buyers are going to replace those other than vulture buyers looking for deals?”

http://www.bloomberg.com/news/articles/ ... new-towers

isn't australia the knuckdragging skinhead (meathead) capital of the world?

i know they have infested bali and thailand

Its well known as the most discriminatory of the 10 or so English speaking countries of the world.

As well, most areas of the US require homeowners to pay property taxes much higher than those in Canada

Poll of realtors?
They have no interest in giving you honest answers since they want the party to continue.
Use your head...you dont get these prices from local buyers.
Distracting from the issue is exactly what will prevent changes from happening

You sound just like the perma-bears. "The realtors are lying" ... if what they say disagrees with your breakfast.

The realtors are lying. It is in their dna.

I'm confused though ETB2, I thought these prices were the result of lack of land.... LOL

As public consensus builds...

"B.C. affordability crisis has citizens angry, survey suggests

... An Insights West online survey reveals 80 per cent of respondents think levying a tax on people who acquire properties but don't live in them is a good or very good idea.

The idea has support across all age categories, with the 18-to-34 year old demographic registering the most support at 89 per cent in favour of a tax on absentee owners. The survey also showed that 83 per cent of British Columbians of East Asian descent support such a tax.

Respondents also expressed a high degree of anger at how all three levels of government are dealing — or not dealing — with the housing affordability crisis, with most of the blame directed at the provincial government..."

http://www.cbc.ca/news/canada/british-c ... -1.3628736

its just the new fad to whine that oneself is entitled to a Dirt Cheap house