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WhipMaster
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Re: Mayor Sunshine - Vancouver’s problem is empty homes

Wed Jun 10, 2015 7:21 pm

....yes, now that's better Jim.... :lol:
Vancouver real estate prices not the fault of foreign buyers, says new report
.... I would chuck that report in the garbage.
these prices are the direct result of Canadian foreign immigration. :lol:
Hoo~Cudda~Not~Nod~ed????? :-)
 
westcoastfella
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Re: Mayor Sunshine - Vancouver’s problem is empty homes

Wed Jun 10, 2015 8:38 pm

Vancouver real estate prices not the fault of foreign buyers, says new report

A new report by the B.C. Real Estate Association says concerns over foreign buyers inflating house prices in Metro Vancouver are overblown and the real culprits are densification and geography.

"When we look at this idea that foreign investors are such a dominant force in the housing market that they're driving up housing prices and eroding affordability for first-time buyers, we find that there's no evidence of that," said Cameron Muir, chief economist with the BCREA...


http://www.cbc.ca/news/canada/british-c ... -1.3108197
Muir is right, there is no evidence of that. There is no evidence at all one way or the other, because Vancouver and BC do not keep stats like this. So, how on earth can he make such a misleading statement?

And honestly, even if there were stats, it would be hard to decipher one way or the other. I have 3 coworkers that all bought houses or apartments in the last 2 years. All 3 are originally from China (new in Canada in the past 5 years), but all are either citizens or PR. All 3 of them either got significant downpayment or full purchase money from family in China. Is this an "offshore purchase", or is it just a Canadian with some money buying property? How would any kind of stats gathering get an good answer?
 
red_lantern
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Re: Mayor Sunshine - Vancouver’s problem is empty homes

Wed Jun 10, 2015 10:42 pm

Vancouver real estate prices not the fault of foreign buyers, says new report
YAH, wondering how much laundered money from CHINA those foreign buyers payed off this reporter to say that !

A new report by the B.C. Real Estate Association says concerns over foreign buyers inflating house prices in Metro Vancouver are overblown and the real culprits are densification and geography.

"When we look at this idea that foreign investors are such a dominant force in the housing market that they're driving up housing prices and eroding affordability for first-time buyers, we find that there's no evidence of that," said Cameron Muir, chief economist with the BCREA...


http://www.cbc.ca/news/canada/british-c ... -1.3108197
 
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WhipMaster
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Re: Mayor Sunshine - Vancouver’s problem is empty homes

Thu Jun 11, 2015 7:32 am

WC:
All 3 of them either got significant downpayment or full purchase money from family in China.
..... I would call this foreign investment even though these people are working here.
But regardless, the effects are a direct result of our Canadian foreign immigration policy. :lol:
Hoo~Cudda~Not~Nod~ed????? :-)
 
reallyreal
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Re: Mayor Sunshine - Vancouver’s problem is empty homes

Thu Jun 11, 2015 8:00 am

WC:
All 3 of them either got significant downpayment or full purchase money from family in China.
..... I would call this foreign investment even though these people are working here.
But regardless, the effects are a direct result of our Canadian foreign immigration policy. :lol:
Who cares if the people are local - where is the money coming from? Nobody knows for sure but, like Whipmaster says, open your eyes :shock:

It is very simple - if price vs. income is out of whack, the money is coming from somewhere else because local incomes can't support current house prices.

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