Real Estate discussions

[kikin]

Originally Posted by jollyburger

...

makes sense

I wonder if we are going to maintain a decade of low interest rates too which we need to keep things from getting ugly

[whatnext]

Originally Posted by kikin

Wow, sad to see this kind of thing happening in Canada

It's quite shocking isn't it?

That the presiding judge would say it "was not his task to rule on the legitimacy of the Zhang family's wealth in Canada". The powers that be don't care how Canadians were priced out of their own market. In case those who didn't read the article missed it the properties purchased included "several" houses in the 400 block of West 41st, two West Van mansions, five properties in Burnaby, thee empty properties in Richmond and a commercial property in Surrey. And this is just one family! And the only reason we're hearing about it is that it got dragged into the courts (as with other cases I've previously cited). Like an iceberg, imagine how much is lurking under the surface that never gets revealed.

[GenWhy?]

I'd own 4 house on the same block to assemble. That makes sense. All our family clients have a few of these. Then they turn into condos and other owners and families buy the strata properties.

[chowhou]

Wait until whatnext finds out how many properties the Aquilinis, the Bosas and the DeCotiis's have. Oh wait I forgot they're not Chinese, he wouldn't care.

[LeftCoaster]

Originally Posted by chowhou

Wait until whatnext finds out how many properties the Aquilinis, the Bosas and the DeCotiis's have. Oh wait I forgot they're not Chinese, he wouldn't care.

I was just thinking the same thing.

[whatnext]

Originally Posted by chowhou

Wait until whatnext finds out how many properties the Aquilinis, the Bosas and the DeCotiis's have. Oh wait I forgot they're not Chinese, he wouldn't care.

Pretty sure the Aquilinis, Bosas and DeCotiis's made their money here (or later in the USA). Perhaps you can uncover where the Zhang's made theirs - oh wait, it was lining up extra-early for presale condos.

[whatnext]

Originally Posted by LeftCoaster

I was just thinking the same thing.

Planting yourself in the Denialist camp, then?

Do the Bosas have high-paying jobs in opera as well?

[chowhou]

I gotta say I have some respect for you whatnext. In an era where it's much more popular to hate Indians than Chinese people now you really have stood by your principles.

[WarrenC12]

Originally Posted by whatnext

Pretty sure the Aquilinis, Bosas and DeCotiis's made their money here (or later in the USA). Perhaps you can uncover where the Zhang's made theirs - oh wait, it was lining up extra-early for presale condos.

If you think those 3 families are squeaky clean you're more naive than I thought.

[whatnext]

Originally Posted by chowhou

I gotta say I have some respect for you whatnext. In an era where it's much more popular to hate Indians than Chinese people now you really have stood by your principles.

I think the question would be: why do you have a kneejerk reaction to leap to the defense of money launderers?

[whatnext]

Originally Posted by WarrenC12

If you think those 3 families are squeaky clean you're more naive than I thought.

Oh, I have no doubt there's skeletons in their closets. Some have been aired publicly. But that doesn't change the fact they started off earning their money in Canada, not "getting in line early for pre-sale condos in Beijing".

[WarrenC12]

Originally Posted by whatnext

Oh, I have no doubt there's skeletons in their closets. Some have been aired publicly. But that doesn't change the fact they started off earning their money in Canada, not "getting in line early for pre-sale condos in Beijing".

You might want to look into their past some more. Arguably there are bigger criminals in that group than some people investing "foreign" money into BC real estate.

But I get it, asian people talk funny.

[whatnext]

Originally Posted by WarrenC12

You might want to look into their past some more. Arguably there are bigger criminals in that group than some people investing "foreign" money into BC real estate.

But I get it, asian people talk funny.

I love how people fall back on the tired argument of our idiot former mayor that calling out foreign money buying up Canadian real estate is racist “waaah”.

Meanwhile, you can celebrate the much needed housing brought to market by this inflow of money.

Photos: $2.5M cut from price of Vancouver house with rooftop putting green
The Marpole mansion has a sauna, outdoor pool, home theatre and at least five fireplaces.
Brendan Kergin Brendan Kergin
Jan 28, 2026 4:15 PM

While one Marpole house has a few unusual features, it doesn't seem to impress Vancouver homebuyers much.

The house at 8483 Wiltshire St. was originally listed for $12 million in 2022. At the time, it was just a couple of years old, having been completed in 2021 according to REW.…

https://www.vancouverisawesome.com/r...oogle_vignette

[Changing City]

Originally Posted by whatnext

I love how people fall back on the tired argument of our idiot former mayor that calling out foreign money buying up Canadian real estate is racist “waaah”.

Meanwhile, you can celebrate the much needed housing brought to market by this inflow of money.

So you can prove that the house was developed by someone outside Canada?

[WarrenC12]

Originally Posted by whatnext

I love how people fall back on the tired argument of our idiot former mayor that calling out foreign money buying up Canadian real estate is racist “waaah”.

Meanwhile, you can celebrate the much needed housing brought to market by this inflow of money.

What does that have to do with anything? Mansions get built there because that's all it's zoned for. West side NIMBYs like yourself fight against any rezoning.

The call is coming from inside your house.

[whatnext]

Oh dear.


B.C. developer worth millions risks jail unless she reveals truth of personal finances
Threat hangs over Helen Chan Sun as creditors try to push businesswoman into bankruptcy
Jason Proctor · CBC News · Posted: Feb 02, 2026

A Vancouver developer with an estimated net worth of at least $20 million faces the possibility of jail later this month unless she comes clean about her personal finances in B.C. Supreme Court.

CBC News has learned Helen Chan Sun was handed a 40-day sentence for contempt of court two months ago after failing to comply with a payment order — a penalty Justice Richard Fowler suspended until Feb. 20 to give Sun time to fully account for her income and expenditures.

The threat comes even as a different set of creditors head to court this week in a bid to obtain a bankruptcy order against the 49-year-old, who is sole shareholder and chief executive officer of a development company involved in multiple residential projects around Greater Vancouver....

...Beyond the mystery of Sun's personal finances, the records provide a window into the downturn in Vancouver's once-booming real estate and condo market — which Sun has attempted to blame for her current lack of liquidity.

She also claims an attempt to force her into personal insolvency could have a wider impact, jeopardizing profits from a major White Rock condo project by giving pre-sale purchasers of nearly 100 units a chance to get out of their contracts...

....In court proceedings Sun has claimed to be "cash poor" — insisting her only assets are the equity she holds in her companies; she says she lives with her mother, earns between $60,000 and $70,000 a year and has just one bank account and one credit card to her name.

But Fowler told Sun it's clear from a lifestyle rich in designer purchases and luxury vehicles that she has not been forthcoming about her failure to meet monthly payments of $300,000 against a remaining debt of nearly $3.5 million.....

https://www.cbc.ca/news/canada/briti...nces-9.7064165

[whatnext]

Good news!

Metro Vancouver home flipping hits record lows at 1.7% of overall sales
Hanna Hett
Feb 5 2026, 1:52 pm

Home flipping in Metro Vancouver now makes up less than two per cent of sales.

This is according to data from Greater Vancouver Realtors that the Saretsky Group, a team of real estate advisors, compiled. Now, most home sales are for end-users, or people who actually want to live in the homes they’ve purchased...

https://dailyhive.com/vancouver/metr...flipping-sales

[kikin]

would be nice if time on market to sell got shorter again for young people that start with a tiny condo to get their foots in the door, hoping to flip it a few years later to move into a bigger one bedroom, and then maybe 5 years after for a 2 bedroom..... traditionally this was a way for a couple to build with time, now the moving up process could be too difficult to consider as it takes many months to sell at a fair price

[jollyburger]

Douglas Todd's latest take on why we shouldn't have more density in Metro Vancouver.

Summary:

Housing is getting approved but not built.

Developers get rich by getting entitlements.

Look at Crombie and the East Broadway/Commercial project.

But then he never seems to contemplate how the **** is Crombie going to monetize their entitlement. Some other idiot developer is going to pay an astronomical sum for the land and just sit on it? Or how they manage to scrub up the financing to build said megatowers and wait a few decades to recoup their investment.

Douglas Todd: Everybody loves their entitlements, especially B.C. housing developers

Even during an extended delay in construction, however, Renger said the “private sector is making money” from the simple fact of having obtained an upzoning.

That’s particularly the problem with mass rezonings, he said, like those Vancouver council has made to the 500-block of the Broadway plan, the Cambie corridor, the Downtown Eastside and the extensive area covered by the Rupert and Renfew Station plan.

In some cases, said Renger and others, property owners openly celebrate their success in gaining profitable zoning entitlements.

One example comes from the companies that have long been pressing Vancouver council to approve three residential towers at the lowrise Safeway site at Broadway and Commercial, a joint venture between Westbank and Crombie REIT (real estate investment trust).

The CEO of Crombie REIT, Mark Holly, told investors the company has “been working on that entitlement for many years,” repeatedly asking to build more rental units. Once the site is “fully entitled,” the CEO said, “we are going to review our options. Which will include a monetization of that asset.”

Vast amounts of money can be made through securing zoning entitlements, Renger said, including by monetizing them in a resale or a property flip.

https://vancouversun.com/opinion/col...ing-developers

[seamusmcduff]

Yeah what? You can't recoup the landlift unless you or someone else actually plans on building the density. No one is buying land to sit on it at these costs, unless there is clear demand that it'll be worth more in the future. That only happens if developers are actually building. Otherwise where is the market for the higher land prices coming from?