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jesse1
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Re: How do you explain Vancouver plummeting and Toronto surging?

Wed Mar 29, 2017 6:40 pm

Wait Vancouver is plummeting? What planet are we on? It's insane sauce in condos and attached. And I want a crash more than anyone else except maybe Taipan and that freako character. But I can't ignore the reality...
There is no shame in overpaying
 
jimtan
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Re: How do you explain Vancouver plummeting and Toronto surging?

Thu Mar 30, 2017 2:11 pm

jesse1 wrote:
Wait Vancouver is plummeting? What planet are we on? It's insane sauce in condos and attached. And I want a crash more than anyone else except maybe Taipan and that freako character. But I can't ignore the reality...

Welcome back. Not even a little bearish?
 
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jesse1
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Re: How do you explain Vancouver plummeting and Toronto surging?

Sun Apr 09, 2017 7:47 pm

Not in 2017 and I think 2018 is unlikely. My secret thoughts are that we won't see oversupply until well into the 2020s when the Millennials are done with their baby making and the Boomers need to move to lockup suites.
There is no shame in overpaying
 
tdma800
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Re: How do you explain Vancouver plummeting and Toronto surging?

Sun Apr 09, 2017 7:50 pm

People that are old enough can pay their property taxes later for an interest rate of below 2 percent . No need to sell
 
jimtan
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Re: How do you explain Vancouver plummeting and Toronto surging?

Mon Apr 10, 2017 2:52 am

jesse1 wrote:
Not in 2017 and I think 2018 is unlikely. My secret thoughts are that we won't see oversupply until well into the 2020s when the Millennials are done with their baby making and the Boomers need to move to lockup suites.


Experience suggests that there is a limit to affordability when migration inwards is based on income.

That is, elite areas of London, Paris, Manhattan and Monte Carlo are boosted by stock market and commercial weath. But, 95% of metro Vancouver is income based.

Just remember this. The last 50% rise in our RE has been based on record low interest rates.
 
tdma800
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Re: How do you explain Vancouver plummeting and Toronto surging?

Mon Apr 10, 2017 5:49 am

Intelligence knows that wages and the like are largely irrelevant except for people going for a low down payment and that most of Vancouver is different. Its a new normal. Its different this time.

To the moon!
 
eyesthebye2
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Re: How do you explain Vancouver plummeting and Toronto surging?

Mon Apr 10, 2017 11:46 am

"But, 95% of metro Vancouver is income based".

Where does this come from? Provide a reference.

That comment is like saying that Vancouver owners have 5% equity in their homes.
There is absolutely no data collected on how much wealth a buyer has...thats why incomes are largely irrelevant except for first time buyers.

i.e. when I bought my place I brought a 10% downpayment - income mattered.
My next purchase I'll be bringing 1.3M in equity - wealth matters.
 
reallyreal2
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Re: How do you explain Vancouver plummeting and Toronto surging?

Mon Apr 10, 2017 11:53 am

Vancouver is the money laundering capital.  Sale prices are not relevant.
 
tdma800
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Re: How do you explain Vancouver plummeting and Toronto surging?

Mon Apr 10, 2017 11:58 am

eyesthebye2 wrote:
"But, 95% of metro Vancouver is income based".

Where does this come from? Provide a reference.

That comment is like saying that Vancouver owners have 5% equity in their homes.
There is absolutely no data collected on how much wealth a buyer has...thats why incomes are largely irrelevant except for first time buyers.

i.e. when I bought my place I brought a 10% downpayment - income mattered.
My next purchase I'll be bringing 1.3M in equity - wealth matters.

Intelligent people know that vancouver real estate is from a variety of sources and the checks for filth are so stringent the govt even has a doggy(not the other indivual here but a real animal) at the airport to smell money
 
yzfr1
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Posts: 263
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Re: How do you explain Vancouver plummeting and Toronto surging?

Mon Apr 10, 2017 1:16 pm

reallyreal2 wrote:
Vancouver is the money laundering capital.  Sale prices are not relevant.


You keep throwing that term around, I don't think you understand what money laundering is.

I don't understand where the laundering comes in. How is cash from China used to buy a property all of a sudden "laundered" there is a clear paper trail to trace..

https://www.google.ca/amp/globalnews.ca ... alyst/amp/

A guy who is shorting the banks is the one claiming there is a money laundering going on. I wonder why hes saying that.

Just to let you know, if you become a Canadain citizen you can't hold your Chinese citzenship anymore. Those who have "laundered" there money out of China spent allot of money to get it out. It's will never go back.

I just LOL at you.
 
jimtan
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Re: How do you explain Vancouver plummeting and Toronto surging?

Mon Apr 10, 2017 2:17 pm

reallyreal2 wrote:
Vancouver is the money laundering capital.  Sale prices are not relevant.


It's amazing. People don't recognize sarcasm!

Anyway, not so much hot money these days.
 
tdma800
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Re: How do you explain Vancouver plummeting and Toronto surging?

Mon Apr 10, 2017 2:19 pm

Plenty of cash and funds around vancouver domestic and international


To the moon
 
reallyreal2
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Posts: 675
Joined: Fri Jun 03, 2016 11:30 am

Re: How do you explain Vancouver plummeting and Toronto surging?

Mon Apr 10, 2017 2:22 pm

yzfr1 wrote:
reallyreal2 wrote:
Vancouver is the money laundering capital.  Sale prices are not relevant.


You keep throwing that term around, I don't think you understand what money laundering is.

I don't understand where the laundering comes in. How is cash from China used to buy a property all of a sudden "laundered" there is a clear paper trail to trace..

https://www.google.ca/amp/globalnews.ca ... alyst/amp/

A guy who is shorting the banks is the one claiming there is a money laundering going on. I wonder why hes saying that.

Just to let you know, if you become a Canadain citizen you can't hold your Chinese citzenship anymore. Those who have "laundered" there money out of China spent allot of money to get it out. It's will never go back.

I just LOL at you.


It is as plain as day - if you don't understand how easy it is or why it happens, then I suggest reading up on it.

Most of the sales that everybody gushes over are outliers that criminals to circumvent tax laws.
 
tdma800
Real Estate Talker
Posts: 2977
Joined: Wed Jan 23, 2008 9:12 am

Re: How do you explain Vancouver plummeting and Toronto surging?

Mon Apr 10, 2017 2:27 pm

yzfr1 wrote:
reallyreal2 wrote:
Vancouver is the money laundering capital.  Sale prices are not relevant.


You keep throwing that term around, I don't think you understand what money laundering is.

I don't understand where the laundering comes in. How is cash from China used to buy a property all of a sudden "laundered" there is a clear paper trail to trace..

https://www.google.ca/amp/globalnews.ca ... alyst/amp/

A guy who is shorting the banks is the one claiming there is a money laundering going on. I wonder why hes saying that.

Just to let you know, if you become a Canadain citizen you can't hold your Chinese citzenship anymore. Those who have "laundered" there money out of China spent allot of money to get it out. It's will never go back.

I just LOL at you.

He/she/it is just thinking about some random guy who bought a house

Other than the jealousy and drool, this year were going to the moon!
 
yzfr1
Real Estate Talker
Posts: 263
Joined: Tue Mar 19, 2013 8:35 pm

Re: How do you explain Vancouver plummeting and Toronto surging?

Mon Apr 10, 2017 2:30 pm

reallyreal2 wrote:
yzfr1 wrote:
reallyreal2 wrote:
Vancouver is the money laundering capital.  Sale prices are not relevant.


You keep throwing that term around, I don't think you understand what money laundering is.

I don't understand where the laundering comes in. How is cash from China used to buy a property all of a sudden "laundered" there is a clear paper trail to trace..

https://www.google.ca/amp/globalnews.ca ... alyst/amp/

A guy who is shorting the banks is the one claiming there is a money laundering going on. I wonder why hes saying that.

Just to let you know, if you become a Canadain citizen you can't hold your Chinese citzenship anymore. Those who have "laundered" there money out of China spent allot of money to get it out. It's will never go back.

I just LOL at you.


It is as plain as day - if you don't understand how easy it is or why it happens, then I suggest reading up on it.

Most of the sales that everybody gushes over are outliers that criminals to circumvent tax laws.


nope, and nope.

if you don't know why its not then you should do more reading.

innocent until proven guitly. This isnt communist China. you are in the wrong country.

there is due process here. TAKE that sucker.

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