I used to work with the City of Richmond, and as of the end of 2009, the Chinese population is over 60%, you can ask the folks at RMD city hall, anyone beyond the front desk will be able to tell you that.

Your link is a poll in 2006 btw?

I don't have any statistical date to back up my claims. I can only speak from my personal experience in dealing with other Chinese. If you think all these guys coming over snatching up million dollar properties are all decent law abiding citizens in their home country then you are very naive.

Jealous and envious? No way man. There is an idiot on every other side of a transaction. I love these guys with their big investment account helping a lot of Canadians free up their equity.

So because of your personal experience that probably composes of less than 1% of the Chinese population, you will base your fact less judgment that all the rich people from China who come here, are all corrupt. And you base this on your instinct but with no actual proof.


I can see you have never written a university paper.

how is thinking all the rich Chinese snatching up properties are all corrupt NOT naive?

most of these mainlander probably made their money in China before they immigrated to Canada...(poor mainlander don't immigrate)

Plus...it won't be easy for CRA to track income & asset these ppl have in China....China ain't known for transparency...and I don't think there is any Canadian-Chinese disclosure agreement unlike what we have with some european countries

but honestly guys...this is just how capitalism and free market works...
some ppl gain some ppl lose....too bad most of you guys are on the wrong side of the fence

I said many not all in my original post. I certainly did not generalize it as something that all Asians do. I think it's better if we just focus just on the issue of this thread and not take it too personal RFlush.

Capitalism is about supply and demand, which one always lagging the other. This creates the proverbial "side of the fence" you quote, yet don't mistake that for "its greener on the other side". Today would be a good time to hop the fence and the supply/demand pendulum of capitalism is showing signs of swinging the other direction.

Government rule changes (lower rates, longer amortizations, higher TDS/GDS, lower downpayments) led increased demand and supply could not keep up.
Government rule changes (shorter amortizations, tougher rules for secondary properties, less refinancing) will lead to decreased demand, while supply is at all time highs.

No offense, but thank god for Chinese investment.
I'm selling my Morgan Creek house. EI keep lowballing me, and white people can't afford it. If not for the chinese, I'd be stuck renting to some HA associate who would use the basement for a grow op.

Many US cities experienced the same Asian buying phenomenon that Vancouver is - yet with prices down across the board in the US we're not hearing stories of Asians saving those cities from melt downs or buying up all the property.

So what happened? Honest question cause it will be important to know for Vancouver.

Sure, perhaps Asians are buying Vancouver property cause it is cheap - yet from what I understand of Asian culture, they like getting their money's worth. Why would they keep buying in a market that starts tanking? This could explain why American cities with significant Asian investment were not saved from the housing bubble either - yet honestly I do not know enough about Asian culture to know, I can only guess based on what data is out there.

:lol

Serious question: Why are you thanking the posts that reference giving preference to local buyers?

You've obviously benefited greatly from the current rules, so changing to a market that discourages speculation would not be to your advantage.

Let's face it, the businessman in me loves foreign investment.
But the xenophobe in me wonders what harm we're doing to our own fragile culture by allowing this mass entry of foriegners, many of which are using our country as a low tax investment haven.

I like when foriegn money helps our whole community. It seems that's becoming less frequent now. The focus seems to be building "little china" rather than helping current BC.

More fuel for the fire:

http://www.cbc.ca/canada/british-col...lage-plan.html

Coles:
- 480 units remain unsold
- 230 units will be offered at 30-50% off
- 130 units will be rented at a loss and sold later
- 120 units will remain off the market. These are the $1M+ luxury units.

Even at 30% off they are still overpriced and undersized compared to equivalent new construction in the area. So it will be interesting to see how the developments surrounding the OV respond.

All 480 units will not be released for sale cause the market cannot handle it right now. Active listings are near the record 2009 high, while sales-listing ratios are below normal levels, even after factoring in increased activity after the mortgage rule change announcement and people trying to beat the Mar change date.

Quote from craigslist
Too bad it was a ruse. The “Chinese realtors” that Key promoted to the media and on its web site were actually local Vancouver real estate agents and brokers. The two featured in Global’s report – Lu Wei and Chris Chan – work and live in Burnaby and downtown Vancouver, for Regent Park and Coldwell Banker. And the helicopter ride was not about showing Mainland Chinese investors other parts of the Lower Mainland to consume, but rather just to flog a single new 17-storey condo in White Rock which Key Marketing was hired to promote for presales.

This^

I have tons of family who live in white rock who own multiple houses and I've seen more EI's and Whites then asians..

Really does that % in whiterock still hold true of the schools? Or is it really 80% asian too?

Can you imagine the shitshow if they released them all at once?
That would be the last nail in the GVA condo coffin.

investors be all like, :eek5r:


When we moved there in 07' it was a very white town. Old people, white people, and a few EI. We moved out in August of 2010 and by that time I was noticing a lot more asian people taking advantage of the services. By my kid's last lesson, the pool in WR had more asian kids than white kids. Ice skating, we doubled the amount of asian kids in two years. Around my kid's school it reminded me of Coquitlam circa 1995. This happened around 2009, pretty much the same time this place opened.

http://www.southridge.bc.ca/

There are a lot of asian kids in that school. A lot.

Don't think I'm saying it's a bad thing. For the most part, I really liked my asian neighbors and members of society. They were quiet, respectful, and thoughtful like most of the asian people we came across in our daily routine. Granted, I was used to going to Richmond twice a week just for lunch and dinner.

Man they make good food in Richmond. White Rock had no good asian cuisine outside of Leela Thai on 152nd.

It's a dog eat dog world out there. These mainlanders are smart because they see an opportunity and they take advantage of it. Yeah it definitely sucks that none of us will ever be able to afford a house in Vancouver, but at the end of the day, its results that matter, and those mainlanders are delivering a better life for their family, props to them.

The thing I don't understand is why people here are so whiny and passive. These are the cards that you are dealt, now go out there and take advantage of the world. First of all, study hard and get a good job. Get an education, or get experience. If you really want it you'll study hard, you'll network, meet people, use family connections, work long hours, put your savings on the line. You need to do whatever it takes to be successful.

Second of all, people move cities and countries all the time. A lot of the rich white people that you see in Vancouver right now were just at the right place at the right time, with a bit of ambition. People need to go out there and find the right place for this right time. Move somewhere that's just starting to develop and there's tons of potential for future growth and make your money. Take advantage of it. And as long as you're young, moving should be easy as fuck. Were in the 21st century, its not like we have to take a boat for 5 months while losing half of the passengers to scurvy just to get to another country.

Also, Vancouver is a city for people who have already made their money and want to live a nice quiet life. Drinking isn't allowed on the street. Everything is expensive. The women are stuck up. The party scene is gross (go to a rave elsewhere in the world and compare that to the drug infested cesspool that is a rave at the pne). Why would any young person want to live here in their 20's is beyond me, unless of course you're still getting your education together.

Moral of the story: If you want it, you'll get it.

Hope you guys take advantage of this nugget of wisdom.

Moral of the story: Moar Dirty Asian Vag in the future...

the realtor that started this was raymond chan.. my mom's old co-worker from Regent Park Realty a decade back..
mom has been telling me he wants to sell mainlanders homes in white rock.. driving them away from west van by saying that "most west van properties are rented.. just look at ubc"..

:facepalm:

Alright, I have to ask - what is an "EI"? :)

East Indian?

punjabiiiiiiiiiiiiiiiiiiiii

Why don't mainlanders just go to the states, houses there are so much cheaper.