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  #5601  
Old Posted Jun 18, 2016, 10:39 PM
geotag277 geotag277 is offline
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Originally Posted by whatnext View Post
LOL seriously bro, give it up.
What a stunning well researched well written refutation of my arguments. I would expect no less from you.

As an aside if you want to prove to anyone here that you are capable of even basic critical thinking skills, this is not the way to do it.

Quote:
Funny that while you live in Calgary, you didn't see fit to comment on this RE article:
The article points out some increased foreign interest in Calgary's market in rural acreages and pockets of ultra high end luxury properties such as Millionaire's Row. In essence, exactly confirming my assertion that foreign capital is mostly responsible for playing in the top end of the market. Those waiting with baited breath for a deal on that West Vancouver mansion have everything to gain.
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  #5602  
Old Posted Jun 18, 2016, 10:43 PM
geotag277 geotag277 is offline
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Originally Posted by cornholio View Post
BUT you know what you don'y see? The last 12 months when the other housing forms picked up as well and begun paralleling single family homes again.
I'm not sure why you and that other guy are so obsessed with pointing out one data point to refute a 20 year trend. One data point is like an anecdote. It doesn't really support what you are trying to support, especially as you try to sweep 20 years of data under the rug. Over those twenty years multi-family sometimes posts double digit price gains. It happens. Yes, some years it does track closely with single family detached gains. Again, the trend is that it is much more stable than single family detached, and one year doesn't disprove that.

I spot checked the graph with average prices and there is nothing misleading about it.
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  #5603  
Old Posted Jun 19, 2016, 8:09 PM
cornholio cornholio is offline
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Originally Posted by casper View Post
What is needed to make the Sunshine Coast attractive is a passenger only ferry service from their into downtown Vancouver. Perhaps that is something positive the government can do (aka commuter rail except as a ferry service). Help create affordable housing options by improving transportation.
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Originally Posted by whatnext View Post
The BC Libs have been floating the idea of a bridge or road which would negate the need for a costly ferry service.
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Originally Posted by ssiguy View Post
I agree with a ferry service and yes it could offer some more affordable options for housing and hence temper some of the rises in Greater Vancouver...........this is why it has not nor ever will be built.
There is a private foot passenger ferry that started this year that runs from Gibsons to Horseshoebay and sometimes to Coal Harbor. http://pacificferries.ca/

The coal harbor run from Gibsons is 60 minutes. Too long for regular commutes. It will never be 100% reliable so you have to be prepared to simply not show up to work a few times per year. The cost is $10 to Vancouver and $15 back, $25 both ways. So even if there ever was a regualr run from Gibsons to downtown Vancouver for anyone working 5 days a week that would be 10 hours per week commuting, not including time to get to the docks, plus $125 in fares. Not viable unless you work remote and only need to go into town once or twice a week, or less. And in that case it is better to use BC ferries and just drive so you can do your shopping and have that flexibility to run all your errands.

As for the bridge. There certainly wont be a bridge. At best there will be a road connection from Squamish making driving between the two on a regular basis a no go. It would make it more difficult for most people living there and working in Vancouver, it would likely kill the BC ferry run though and make the private passenger ferry more viable long term and be able to do more runs. Unfortunately like I said for most people the passenger ferry run for regular commuting is simply a un workable solution long terms and will remain so.

The recommendation on a fixed link comes out 4th quarter this year. So within 6 months we will know if the chance of a fixed link is 0 within the next decade or two or some other number. I am optimistic that the result will be a recommendation to finish a road from Squamish to Port Mellon and that it will be built within a decade. When its done the BC Ferry run will be discontinued and the private ferry run if it survives until then will pick up some of the slack. It will make Sunshine Coast no less and no more viable as a bedroom community of Vancouver.

Prices are being speculated on, and as usual like 8 years ago people will lose and be stuck in houses they cant get out of, in a area with no jobs, and a commute to most places of employment unworkable long term.
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  #5604  
Old Posted Jun 19, 2016, 8:23 PM
cornholio cornholio is offline
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So Trudeau has now weighed in. Everyone is now paying attention. Poloz, big banks, prime minister, economists, IMF, OECD, everyone is now aligned. The only people dragging their heals are in BC's case the mayor of Vancouver and the provincial government. Interesting times. Like I keep saying, there is no longer a scenario where this ends well. Trudeau seems to agree.

Quote:
Trudeau says cash from overseas 'obviously' plays a role in Vancouver housing crisis
Quote:
"We are all hoping to stabilize the market," he said. "We are on a trajectory that doesn't have any good outcome."
http://www.cbc.ca/news/canada/britis...sing-1.3639295
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  #5605  
Old Posted Jun 19, 2016, 9:28 PM
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Originally Posted by cornholio View Post
So Trudeau has now weighed in. Everyone is now paying attention. Poloz, big banks, prime minister, economists, IMF, OECD, everyone is now aligned. The only people dragging their heals are in BC's case the mayor of Vancouver and the provincial government. Interesting times. Like I keep saying, there is no longer a scenario where this ends well. Trudeau seems to agree.
I tend to agree that there's probably no good outcome anymore in the sense of avoiding financial distress to significant numbers of people, but the situation is not going to get any better if the various levels of government continue to ignore the problem for another 5 or 10 years.

To be honest the scenario where a bunch of speculators from some other country lose their almost certainly illegally-exported and possibly illegally-obtained money doesn't upset me all that much. And if it scares off future speculative foreign land purchasing, all the better. A lot of recent local buyers, especially younger people buying in for the first time, would get hurt as well though.

There's also the "paper loss" crowd who would merely fail to get a huge windfall out of buying a house. Not so bad on the face of it but it kind of sucks if you were planning on cashing in the house to fund your retirement. I understand it politically but nevertheless think it is crazy that, for example, the premier of BC came out and told the public that protecting massive increases in housing prices is one of her priorities. It must be hard to avoid a sad ending one way or another when governments manipulate or give the impression that they are manipulating markets in that way.
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  #5606  
Old Posted Jun 19, 2016, 10:51 PM
lio45 lio45 is offline
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Originally Posted by cornholio View Post
The coal harbor run from Gibsons is 60 minutes. Too long for regular commutes. It will never be 100% reliable so you have to be prepared to simply not show up to work a few times per year. The cost is $10 to Vancouver and $15 back, $25 both ways. So even if there ever was a regualr run from Gibsons to downtown Vancouver for anyone working 5 days a week that would be 10 hours per week commuting, not including time to get to the docks, plus $125 in fares.
I suppose the monthly pass would be a lot cheaper than that ~$500/month in individual fares, wouldn't it?
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  #5607  
Old Posted Jun 19, 2016, 10:55 PM
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  #5608  
Old Posted Jun 19, 2016, 11:16 PM
kwoldtimer kwoldtimer is offline
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Originally Posted by someone123 View Post
I tend to agree that there's probably no good outcome anymore in the sense of avoiding financial distress to significant numbers of people, but the situation is not going to get any better if the various levels of government continue to ignore the problem for another 5 or 10 years.

To be honest the scenario where a bunch of speculators from some other country lose their almost certainly illegally-exported and possibly illegally-obtained money doesn't upset me all that much. And if it scares off future speculative foreign land purchasing, all the better. A lot of recent local buyers, especially younger people buying in for the first time, would get hurt as well though.

There's also the "paper loss" crowd who would merely fail to get a huge windfall out of buying a house. Not so bad on the face of it but it kind of sucks if you were planning on cashing in the house to fund your retirement. I understand it politically but nevertheless think it is crazy that, for example, the premier of BC came out and told the public that protecting massive increases in housing prices is one of her priorities. It must be hard to avoid a sad ending one way or another when governments manipulate or give the impression that they are manipulating markets in that way.
I've often wondered whether that subset of the Vancouver market actually cares - if the goal was to secure assets outside China, they may be quite prepared to lose a portion of it to a fall in the housing market, as opposed to holding it in China where it would all have been at risk. Does that make any sense?
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  #5609  
Old Posted Jun 20, 2016, 3:41 AM
whatnext whatnext is offline
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Originally Posted by geotag277 View Post
What a stunning well researched well written refutation of my arguments. I would expect no less from you.

As an aside if you want to prove to anyone here that you are capable of even basic critical thinking skills, this is not the way to do it.



The article points out some increased foreign interest in Calgary's market in rural acreages and pockets of ultra high end luxury properties such as Millionaire's Row. In essence, exactly confirming my assertion that foreign capital is mostly responsible for playing in the top end of the market. Those waiting with baited breath for a deal on that West Vancouver mansion have everything to gain.
My reply gave all the consideration your continued desperate attempts to sound credible on a market you don't even have first hand experience in deserved.

Your laughable comment that Vancouver posters are out of touch with reality, while you pontificating from the glory that is Calgary is laughable. Or maybe you stashed baba and mama in a house in Vancouver and that makes you an expert?
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  #5610  
Old Posted Jun 20, 2016, 5:29 AM
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This was a really well done piece.
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  #5611  
Old Posted Jun 20, 2016, 6:17 AM
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That program was a pack of lies. The reason why Vancouver's real estate is so expensive has almost nothing to do with foreign money and it's just because "it's the best place on earth", "everybody wants to live here", and "the economy is booming."

I know this because this is what Bob Rennie, Christy, and Mayor Moonbeam said so.
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  #5612  
Old Posted Jun 20, 2016, 12:53 PM
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Originally Posted by giallo View Post
This was a really well done piece.
What I found interesting is how a hugely disproportionate number of these "Chinese millionaires" seem to be attractive young females in their 20s.

At least that's the impression one gets from the video.
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  #5613  
Old Posted Jun 20, 2016, 3:03 PM
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What I found interesting is how a hugely disproportionate number of these "Chinese millionaires" seem to be attractive young females in their 20s.

At least that's the impression one gets from the video.
Are you noticing this trend out your way? Obviously BC has been the nerve centre of this for years, but Alberta and the GTA have attracted a good portion of the wealthy Chinese population too.

Lately in Winnipeg I've been seeing the same trend, the Chinese university student in a supercar thing. I see it whenever I drive down to Fort Richmond which is the nerve centre for new Chinese immigrants. Frankly, I'm kind of surprised to see this taking off here... Winnipeg has historically been a refuge for the poor and desperate, not millionaires who can pick warmer and sunnier climes. Haven't noticed it having any appreciable effect on the local real estate market, though.
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  #5614  
Old Posted Jun 20, 2016, 3:07 PM
kwoldtimer kwoldtimer is offline
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Are you noticing this trend out your way? Obviously BC has been the nerve centre of this for years, but Alberta and the GTA have attracted a good portion of the wealthy Chinese population too.

Lately in Winnipeg I've been seeing the same trend, the Chinese university student in a supercar thing. I see it whenever I drive down to Fort Richmond which is the nerve centre for new Chinese immigrants. Frankly, I'm kind of surprised to see this taking off here... Winnipeg has historically been a refuge for the poor and desperate, not millionaires who can pick warmer and sunnier climes. Haven't noticed it having any appreciable effect on the local real estate market, though.
Markham, in a suburban sort of way. I'm surprised sometimes but we don't seem to see as much of it in Waterloo as I would have expected - all studies and no lifestyle, I guess!
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  #5615  
Old Posted Jun 20, 2016, 3:12 PM
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Originally Posted by esquire View Post
Are you noticing this trend out your way? Obviously BC has been the nerve centre of this for years, but Alberta and the GTA have attracted a good portion of the wealthy Chinese population too.

Lately in Winnipeg I've been seeing the same trend, the Chinese university student in a supercar thing. I see it whenever I drive down to Fort Richmond which is the nerve centre for new Chinese immigrants. Frankly, I'm kind of surprised to see this taking off here... Winnipeg has historically been a refuge for the poor and desperate, not millionaires who can pick warmer and sunnier climes. Haven't noticed it having any appreciable effect on the local real estate market, though.
Positive move all around. It is helping create a diverse society from a culture perspective. From a business perspective it is building ties into one of the worlds largest economies.
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  #5616  
Old Posted Jun 20, 2016, 3:20 PM
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Originally Posted by esquire View Post
Are you noticing this trend out your way? Obviously BC has been the nerve centre of this for years, but Alberta and the GTA have attracted a good portion of the wealthy Chinese population too.

Lately in Winnipeg I've been seeing the same trend, the Chinese university student in a supercar thing. I see it whenever I drive down to Fort Richmond which is the nerve centre for new Chinese immigrants. Frankly, I'm kind of surprised to see this taking off here... Winnipeg has historically been a refuge for the poor and desperate, not millionaires who can pick warmer and sunnier climes. Haven't noticed it having any appreciable effect on the local real estate market, though.
I have not noticed much in the Ottawa-Gatineau region.

It's been talked about in the Quebec media though, as if it's now starting to hit Montreal.
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  #5617  
Old Posted Jun 21, 2016, 3:44 AM
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Vancouver homes being flipped like ‘cheap penny stocks’ according to realtor

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Steve Saretsky, a realtor who also runs the website Vancity Condo Guide, penned a blog post earlier this week after digging into MLS sales data for homes sold on the west side during May 2016.

He says what he found sheds some light on just how quickly some homes are appreciating.

Looking at a detached home at 6712 Adera St. in the neighbourhood of South Granville, Saretsky found it had changed hands four times over the last two years and went up in price from $5 million in January 2014 to $7.6 million in May 2016, an increase of just over 50 per cent.

He also found that of a total of 179 homes on the west side of Vancouver that sold in May, 28 had already been sold at least once in the previous 12 months.

The average profit made on each of the 28 homes? A cool $1.14 million.
What an ugly RE market.
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  #5618  
Old Posted Jun 21, 2016, 7:10 AM
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Aided and abetted by one of the most useless and vapid Premiers in the country. She's little more than a shill for the real estate industry.
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  #5619  
Old Posted Jun 21, 2016, 8:27 AM
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Christy Clarks Conservative government is clueless and has essentially by doing nothing DESTROYED this province.

BC is hardly salvageable anymore.
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  #5620  
Old Posted Jun 21, 2016, 12:06 PM
lio45 lio45 is offline
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Originally Posted by esquire View Post
Are you noticing this trend out your way? Obviously BC has been the nerve centre of this for years, but Alberta and the GTA have attracted a good portion of the wealthy Chinese population too.

Lately in Winnipeg I've been seeing the same trend, the Chinese university student in a supercar thing. I see it whenever I drive down to Fort Richmond which is the nerve centre for new Chinese immigrants. Frankly, I'm kind of surprised to see this taking off here... Winnipeg has historically been a refuge for the poor and desperate, not millionaires who can pick warmer and sunnier climes. Haven't noticed it having any appreciable effect on the local real estate market, though.
It's not really surprising, because Canada is especially easy to get into for foreign capital, so for many Chinese that's where they have to go. The "warmer climes" did get picked first (Vancouver before Winnipeg) but eventually, it was logical to see some spillover to other major markets now that Van insanity has reached new heights.

The main goal is to get the money outside of China and into any safe Western country they can bring it to, but still, I would expect that a secondary goal is to get the most out of their investment. At this point, I can see reasons to choose other cities (Mtl, Wpg) over Van.
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