HAHAHAHAHAHAaaaaaaaaaaaaaaaaaaaaaaaaAAaaaaaaaaaaaa aaaaaaaaaahaaaaaaaaaaaaaAaaaaaaaaaaaaaaaaaaaaaaaa
it doesnt matter if your parents just transferred two homes to your name its still THEIRS!!!! Plus you ll be liable for all the equity they pulled out of it to buy you that mercedes or gallardo.:haha:

:lol

to transfer into your name, don't you have to pay taxes on the transfer based on current market value? i guess your parents paid for that too?

Ya, capital gains on the difference between the purchase price it was bought for and the value of it when it was transferred. I only know this because my mother in law did this when she was terminally. It allowed her kids to avoid having to go through probate and all the costs associated with it but they did have to pay capital gains.

^that's assuming there IS a gain in value

:D

True, that also assumes that it's not your primary residence. I believe if you don't already own a home and you stay in it for a while (year comes to mind) you will not have to pay the gains. Please don't take this advice as fact though check with your lawyer or accountant because I'm going from memory and sometimes my memory or interpretation may be incorrect. :)

^Oh I am pretty sure his parents' accountants and lawyers will take care of that

:D

i dont' even know if people who say they own so many properties and stuff are serious anymore... whether they're lying or not...

i don't own anything right now, does that make me a failure compare to all those people that their parents transfer everything to them?...

and if it's true... then yes i'm jealous by the fact you have a couple of nice places you can live in.. but i'm not jealous at your ability to make your own earnings to buy these properties... if i were you in this case.. i wouldn't be bragging about how your mommy and daddy transferred properties to you...

but then again.. that's just me, the guy who owns practically nothing who's still in SFU with a student loan..

Some people really need to grow up and start talking and bragging about what they've accomplished, not what others have accomplished.

i wouldn't worry about it that much scheng924, some people just come out of the right hole, the same people think they're the big dick but it's just the umbilical cord

Yup, foreign investment is the # 1 reason why housing prices are high.

If you look at other high priced cities, such as San Fran, Hawaii etc. It's because theres foreign people that buy up properties, and therefore increasing the price. Hawaii gets foreign investment from everybody, cause everyone loves the sun and sea.


For Vancouver, the foreign investors are mainland immigrants with shiet loads of cash. It's the same thing happening in San Francisco (where there are tonnes of asians). Where housing in other cities in the US dropped dramatically. San Fran just had a "modest" decline.

Asians want to live in a city where they don't need to adapt much to new cultures or learn the english language.

The locals cant compete with the foreigners when they bring in their millions of dollars.

It sucks for locals, but thats just the nature of the city.