The Metro Vancouver Real Estate Thread

[whatnext]

Originally Posted by misher

I would say people in Vancouver would definitely be employed should the pipeline be approved. I guess you can't specify what area of BC they'll come from but you can assume a lot will come from the biggest source of labor in the region? The numbers below aren't entirely accurate but do help give some estimates.

..The third myth is that the <Transmountain> project will generate significant economic gains to B.C. The project will create short-term construction jobs and about 313 permanent direct jobs in B.C., which is a positive. But the job gain is small compared with the 72,000 new jobs created in B.C. in 2016 and could be more than offset by the risk of job losses resulting from oil spills. Vancouver, for example, estimates between 3,000 and 13,000 person-years of employment could be lost due to a spill...

https://www.timescolonist.com/opinion/op...t-the-trans-mountain-pipeline-1.15051607

Originally Posted by misher

For 1) I agree, interest rates will not go that low again for a while if ever.
For 2) most people like to blame foreigners as there an incredibly easy target but studies have shown that they do not play that big a role in our real estate market. "Jack Favilukis, assistant professor with UBC’s Sauder School of Business, said the review found foreign buyers have only “slightly” increased the price of real estate."
https://globalnews.ca/news/3817934/forei...ncouvers-housing-prices-is-modest-study/

Btw seriously how much do you hate Chinese, its always Chinese this Chinese that with you. Logically you must know that not every non-citizen in a house isn't Chinese. Hell not even half are. A surprisingly large part of Downtown is owned by British and Persians. You remind me of this guy from Boondocks

You should walk around Kerrisdale sometime, apparently you are clueless about the level of Mainland Chinese investment in Vancouver real estate. I'll leave you with this quote from the "horribly xenophobic" Andy Yan:


...Yan found that buyers with “non-Anglicised Chinese names” had picked up two-thirds of 172 houses sold over a six-month period beginning in September 2014 in Vancouver’s posh west side neighbourhoods. Contrary to public perception, however, the buyers weren’t just showing up with “bags of cash” to make their buys. Some of Canada’s biggest banks were in on it. Roughly 80 per cent of the deals involved a mortgage, and half of the mortgages were held by two banks – CIBC and HSBC...

...Vancouver’s “condo king” Bob Rennie—a primary financial backer of Robertson’s NDP-tilting Vision Vancouver team and also the chief fundraiser for the NDP’s adversaries in Christy Clark’s Liberals—had cultivated a particularly brazen habit of it. “So you had these whispers about racism being used to shut down a dialogue about affordability and the kind of city we want to build here,” Andy Yan explained. “It’s a kind of moral signalling to camouflage immoral actions. It’s opportunism, and it’s a cover for the tremendous injustices that are emerging in the City of Vancouver and across the region. It’s a weird Vancouver thing. It’s very annoying. It’s kale in the smoothies or something.”.(bold mine)

https://www.macleans.ca/economy/realesta...exposed-vancouvers-real-estate-disaster/