Join Australia's most dynamic and respected property investment community

Vancouver

Discussion in 'General Property Chat' started by Dean Collins, 21st Aug, 2016.

Tags:
  1. Dean Collins

    Dean Collins Well-Known Member

    Joined:
    21st Feb, 2016
    Posts:
    219
    Location:
    New York
  2. samiam

    samiam Well-Known Member

    Joined:
    5th Sep, 2015
    Posts:
    525
    Location:
    on my way
    A lot of houses in west van and some part of Burnaby (owned by rich ppl fr HK) sat empty for years and affecting the strong community sense of vancouverites for a while. It's still early to comment on long term impact on market but most people (apart from RE industry) will embrace positively.
    Market may continue the same in East van where the average income people are. So is Richmond if immigration continues at the same rate...
     
  3. radson

    radson Well-Known Member

    Joined:
    4th Jul, 2015
    Posts:
    801
    Location:
    Balmain
    Wow, im gobsmacked that zerohedge posted something negative about real estate. ;)

    I love this quote from RationalWiki

    Zero Hedge is a batshit insane Austrian school finance blog run by two pseudonymous founders who post articles under the name "Tyler Durden," after the character from Fight Club.[wp] It has accurately predicted 200 of the last 2 recessions.
     
    Ed Barton likes this.
  4. grk349

    grk349 Member

    Joined:
    20th Aug, 2016
    Posts:
    10
    Location:
    Gold coast
    My cousin is a real estate agent in Vancouver and I was speaking to him last month. He said the market in Delta and Surrey had dropped of massively. Up until then he was flipping contracts and taking a slice in the middle. Apparently it was (is?) widespread where the price appreciation in just those few weeks was huge enough to make it worthwhile.
     
  5. Ed Barton

    Ed Barton Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    1,118
    Location:
    Brisbane
    I stopped reading after the first paragraph. The grade 9 work experience kid could have done better.
     
  6. samiam

    samiam Well-Known Member

    Joined:
    5th Sep, 2015
    Posts:
    525
    Location:
    on my way
    that is interesting. I wasnt expecting to be widespread and a big drop.
    I wonder what it would do to sydney and melbourne if extra purchase price applied
     
  7. grk349

    grk349 Member

    Joined:
    20th Aug, 2016
    Posts:
    10
    Location:
    Gold coast
    The view 'on the street' in Vancouver is that the rich don't care about the 15%. It is still a small percent of their wealth and a small price to pay to move funds out of China. So what has stalled Vancouver? Maybe just fear.
     
    samiam likes this.
  8. kamchatsky

    kamchatsky Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    482
    Location:
    Sydney Northwest