Chinese Investors Driving Up Metro Housing Prices - Page 29

trofirhen · #**561** Posted **Apr 16, 2015, 9:21 PM**

Quote:

Originally Posted by VarBreStr18

since you make it look so grim buying into condo vs buy a house, wonder what is the future of condo market?
I love to hear people's opinion and their prediction. Anyone?

Buildings wear out and get replaced, and new ones are added to the market.
IMO most of the new condos in the market are in very modern, often-highrise buildings, with appointed kitchen, A/C,the whole bit.
Like, if you're a developer, you want the most bang for your buck, and there's a real market opportunity with the overseas investment issue implied.
The real toughie here is the "trickle-down" effect, which keeps most home ownership, be it condominium or free-standing house, beyond the reach of people
who would probably be able to buy the equivalent more easily in other cities: Saskatoon, Winnipeg, maybe even Montreal.
Overall, I think that condo prices would not keep climbing forever, but stabilize at prices higher than most Canadian middle class families or even individuals cannot afford,
except by taking out a mortgage, a bit like grabbing a link on the anchor chain of some great ocean liner .......
Getting a starter home will, of course, difficult for people with middle incomes (except if mortgaged to the kitchen sink), and lower income earners who hold regular jobs, and will normally never be homeowners, but renters only, will be more dependant on
social housing on a larger and more widespread scale than now one hopes, and on off-mainstream rental opportunities,
perhaps laneway housing (?) though that seems to be getting a bit upscale, too.
That's an overseas (distant) perception, anyway.

Jebby · #**562** Posted **Apr 17, 2015, 1:43 AM**

Quote:

Originally Posted by Vin

The government can take steps in addressing this situation by continuing to attract the right kinds of foreign immigrants/funds, but at the same time introduce protective measures such as a high tax regime for foreigners/newly landed immigrants (for a period of 5 years min.).

That would be the most absurd thing to do...unless of course your aim is to discourage foreign investment.

whatnext · #**563** Posted **Apr 24, 2015, 4:54 PM**

The mother of Gregor's new squeeze has been arrested on corruption charges in China. I wonder if she owns a house or two in Vancouver?
http://www.vancouversun.com/news/Wan...078/story.html

st7860 · #**564** Posted **Apr 24, 2015, 5:09 PM**

Quote:

Originally Posted by Jebby

That would be the most absurd thing to do...unless of course your aim is to discourage foreign investment.

You took the words right out of my mouth. It isn't good to be jealous of others, nor is it appropriate to single out specific groups.

Vin · #**565** Posted **Apr 24, 2015, 7:55 PM**

Quote:

Originally Posted by Pinion

Vin, yes my parents and in-laws love the status quo. They got in when things were cheap. What's your point? I'm not going to let injustices stand just because they benefit me. If anything it takes guts to point out the flaws in a system that will ultimately help me more than most. I'm gonna inherit millions and would already be driving a lambo to Holt Renfrew every day like the rest of the trust fund babies if my family's culture didn't believe in teaching hard work and character and contributing to society.

(JK I still wouldn't shop at Holts)

My point is, you left out a whole bunch of people who are supporting the current status quo, and instead targetting immigrants who "inherit millions from parents", "real estate agents" and "those driving lambos". The fact is, with the current system, your parents benefit (that means you too), the big bankers benefit, local businesses benefit, and of course, all levels of government benefit. If the majority of Vancouverites are in dire straits due to escalating housing costs, then why would they vote in a pro-business, pro-immigration government? It sounds more like you are green-eyed of the spoilt kids driving lambos than anything else. Guess what, that's their life, and I'm not envious of them at all. Why should you if you aren't materialistic from your good upbringing? If you think that our society is being degraded due to "spoilt brats from China" and the greedy authority who bring them in, then say it as it is, and make sure that the next government only brings in legitimate hardworking tax-paying folks like yourself. But don't target just the Chinese: they are what they are. The blame game should also go to the Canadians who crave the lure of money from the East.

Vin · #**566** Posted **Apr 24, 2015, 8:08 PM**

Quote:

Originally Posted by Jebby

That would be the most absurd thing to do...unless of course your aim is to discourage foreign investment.

Some immigrants temporarily park their money here, obtain their citizenship, and then take out the investments once they receive their passports. Perhaps I wasn't clear when I said about introducing a higher tax regime. If they take out their money within a certain period of time, the government has the right to tax it, or they risk losing their Canadian status.

Quote:

Originally Posted by st7860

You took the words right out of my mouth. It isn't good to be jealous of others, nor is it appropriate to single out specific groups.

Since you are in such a generous spirit, let's take in all the refugees of the world. We shouldn't discriminate and shouldn't single out specific groups. Anyone is welcome to this bountiful land.

We shouldn't just let hardworking people come to this country, but must include all kinds of people, including terrorists, criminals, etc. Is that what you mean?

My point is, the government can do a better job to let legit immigrants enter this country. Sorry, but that is already singling out specific groups.

st7860 · #**567** Posted **Apr 24, 2015, 8:11 PM**

I don't give a flying explicit toy helicopter(yes you can buy those on ebay) if someone wants to come here buy some houses, that's a good thing. criminals are already prevented from immigrating.

Pinion · #**568** Posted **Apr 24, 2015, 8:43 PM**

Convicted criminals are prevented. Huge difference. When the government is corrupt, the corrupt don't have criminal records.

Quote:

Originally Posted by Vin

It sounds more like you are green-eyed of the spoilt kids driving lambos than anything else. Guess what, that's their life, and I'm not envious of them at all.

I'm not envious, I despise them and their culture. I want them to stop ruining Vancouver economically and culturally. European, Chinese, Persian, Indian, whatever. Trash is trash.

Quote:

But don't target just the Chinese: they are what they are. The blame game should also go to the Canadians who crave the lure of money from the East.

I don't blame any race and do blame the government. This is not about race as I've said many times, race is only brought up by those who want to silence critics. White guilt has been a very effective manipulating tool, but it doesn't work consistently forever. We're waking up as a country - all of us.

st7860 · #**569** Posted **Apr 24, 2015, 8:44 PM**

a person is not a criminal until convicted.

Pinion · #**570** Posted **Apr 24, 2015, 8:53 PM**

Quote:

Originally Posted by st7860

a person is not a criminal until convicted.

You can't be serious. I actually lmao'd, like not just figuratively.

I can't believe I need to provide an example, but say a powerful head of a corrupt government department siphons off millions of dollars that belonged to his fellow countrymen and no one noticed because the country is too corrupt to deal with it and the idea of capitalism and rule of law is still new. Then this guy sends his wife and kids to Vancouver to buy a $3,000,000 house to live in until they can get citizenship, while he stays behind and continues to siphon millions while never being convicted of anything. That guy's not a criminal? The whole reason they set up here is to avoid punishment if and when their own country gets their shit together.

To make it even easier for you, is the guy who just entered my locked garage, cut my bike lock and stole my bike not a criminal because he won't be caught and convicted? There's no usable evidence, the police didn't even attend the scene, I guess he's innocent!

This is outrageously stupid. What's your motivation for allowing this all to happen? Be honest.

st7860 · #**571** Posted **Apr 24, 2015, 9:08 PM**

Quote:

Originally Posted by Pinion

You can't be serious. I actually lmao'd, like not just figuratively.

I can't believe I need to provide an example, but say a powerful head of a corrupt government department siphons off millions of dollars that belonged to his fellow countrymen and no one noticed because the country is too corrupt to deal with it and the idea of capitalism and rule of law is still new. Then this guy sends his wife and kids to Vancouver to buy a $3,000,000 house to live in until they can get citizenship, while he stays behind and continues to siphon millions while never being convicted of anything. That guy's not a criminal? The whole reason they set up here is to avoid punishment if and when their own country gets their shit together.

To make it even easier for you, is the guy who just entered my locked garage, cut my bike lock and stole my bike not a criminal because he won't be caught and convicted? There's no usable evidence, the police didn't even attend the scene, I guess he's innocent!

This is outrageously stupid. What's your motivation for allowing this all to happen? Be honest.

Some people in high positions in Canada aren't necessarily convicted or even charged either, however that makes them criminals according to you
http://en.wikipedia.org/wiki/Fast_Ferry_Scandal
http://en.wikipedia.org/wiki/Sponsorship_scandal
http://en.wikipedia.org/wiki/Robert_...Taser_incident

s211 · #**572** Posted **Apr 24, 2015, 9:20 PM**

Quote:

Originally Posted by Pinion

What's your motivation for allowing this all to happen? Be honest.

A darned good question! Someone's advocating a little too vociferously, it feels like.

Pinion · #**573** Posted **Apr 24, 2015, 10:11 PM**

Quote:

Originally Posted by st7860

Some people in high positions in Canada aren't necessarily convicted or even charged either, however that makes them criminals according to you
http://en.wikipedia.org/wiki/Fast_Ferry_Scandal
http://en.wikipedia.org/wiki/Sponsorship_scandal
http://en.wikipedia.org/wiki/Robert_...Taser_incident

Accusations don't necessarily mean someone is a criminal, committing crimes makes people criminals - Canadian or not. You're the one who said they have to be convicted. Enough deflecting, is the guy who stole my bike a criminal or not? And why are you defending these people? (not bike thieves)

GMasterAres · #**574** Posted **Apr 25, 2015, 8:18 AM**

So evidently it is criminal to be rich and all wealthy people are criminal. Especially if they are Chinese... seems to be the opinion I'm reading above.

Amazing... *sigh* thought I was living in 2015 not 1915.

GMasterAres · #**575** Posted **Apr 25, 2015, 8:30 AM**

Quote:

Originally Posted by Pinion

Still barely keeping up with inflation, and since that's provincial I wonder how much of it is inflated by resource extraction jobs outside of Vancouver.

Inflation in that period in BC was 15%. So 15% inflation but 35% increase in median income. That's 20% greater increase in buying power over inflation.

I wouldn't classify that as barely keeping up. "Keeping up" means you're behind.. looks like it was 20% ahead. And go take a look at stats can, CPI for Vancouver is roughly the same over the last 5 years as all of BC combined. So you're just making up fantasy that resource extraction jobs outside is mucking up numbers. Vancouver is simply getting wealthier and natives that aren't wealthy are being forced to move to the suburbs where pace is a lot slower.

Welcome to pretty much every major city around the world especially those that have run out of land to develop and have a lot of water.

Pinion · #**576** Posted **Apr 25, 2015, 2:11 PM**

Non-millionaires could buy houses 20 years ago, now they can't. The wealthy are getting wealthier and the middle class is dropping into poverty. Stats can be twisted to say whatever you want them to say.

Quote:

Originally Posted by jhausner

So evidently it is criminal to be rich and all wealthy people are criminal. Especially if they are Chinese... seems to be the opinion I'm reading above.

Let's try to keep the level of conversation above this please.

st7860 · #**577** Posted **Apr 25, 2015, 2:25 PM**

Quote:

Originally Posted by jhausner

So evidently it is criminal to be rich and all wealthy people are criminal. Especially if they are Chinese... seems to be the opinion I'm reading above.

Amazing... *sigh* thought I was living in 2015 not 1915.

Yes lots of haters lol. Rudeness and obscenities won't change anything(American Wedding, 2003 Steve Stiffler) I don't give an flying explicit toy helicopter(its a real product on ebay) how many people here and buy whatever they want. Most people who come here enter legally under the laws of Canada(ie: if you're not a criminal). Also, some people not from Vancouver do not know that property taxes are shockingly low compared to many American cities(or cities in Ontario as well). So if someone doesn't get a property over budget, paying for the mortgage is affordable.

st7860 · #**578** Posted **Apr 25, 2015, 2:30 PM**

Quote:

Originally Posted by jhausner

I wouldn't classify that as barely keeping up. "Keeping up" means you're behind.. looks like it was 20% ahead. And go take a look at stats can, CPI for Vancouver is roughly the same over the last 5 years as all of BC combined. So you're just making up fantasy that resource extraction jobs outside is mucking up numbers. Vancouver is simply getting wealthier and natives that aren't wealthy are being forced to move to the suburbs where pace is a lot slower.

Whistler BC is a good example of that too. Hmm what else. OMG!!! The Lougheed skytrain station in Burnaby BC has some high net worth Korean families. Surrey BC is notorious for certain types of people as well.

whatnext · #**579** Posted **Apr 25, 2015, 3:17 PM**

Quote:

Originally Posted by st7860

Yes lots of haters lol. Rudeness and obscenities won't change anything(American Wedding, 2003 Steve Stiffler) I don't give an flying explicit toy helicopter(its a real product on ebay) how many people here and buy whatever they want. Most people who come here enter legally under the laws of Canada(ie: if you're not a criminal). Also, some people not from Vancouver do not know that property taxes are shockingly low compared to many American cities(or cities in Ontario as well). So if someone doesn't get a property over budget, paying for the mortgage is affordable.

Yes, st we get your repeated assertions that you and your helicopter should be able to buy whatever you want with no thought of the impact it has on the livability of the city.

st7860 · #**580** Posted **Apr 25, 2015, 3:27 PM**

When many people in Toronto come to Vancouver they are surprised at how low rents are. Also for a family with a child that doesn't have a high income, they will get assistance with their monthly housing costs. This isn't welfare or the UCCB etc. Its money to help with housing. It is not necessary to waitlist for a co-op or special housing for that program.

Besides the cost of a place, most people know its already a livable city, albeit with a subculture of racism on foreigners