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02-11-2011, 03:33 PM
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#76 | | I contribute to threads in the offtopic forum
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To me this is nothing more than typical real estate hype.
You can't take one instance and try to play it up like a trend... unless of course youre the media who has a vested intrest in maintaining healthy relationships with their advertising customers. (Main customers being real estate companys.)
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02-11-2011, 04:17 PM
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#77 | | Banned (ABWS)
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Originally Posted by shenmecar  Why don't mainlanders just go to the states, houses there are so much cheaper. | I already asked this question.
Some American cities had similar experiences as Vancouver with rich Asians buying property... so when prices dropped it would make sense that they continue buying up entire cities. Yet that has not seemed to happen.
Forgive my stereotype, yet I've heard lots of jokes of Asian families keeping their couches wrapped in plastic. I know that's not universally true, yet it does say something about how Asian culture tries to retain the value of what they own. Do you think the same people who keep their couch wrapped in plastic will want to buy a house decreasing in value?
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02-11-2011, 09:54 PM
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#78 | | OMGWTFBBQ is a common word I say everyday
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Originally Posted by shenmecar Why don't mainlanders just go to the states, houses there are so much cheaper. | They are.
they are buying condos by the building for rental purposes.
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It just happened.
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02-11-2011, 10:41 PM
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#79 | | Prince of the Apes
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Originally Posted by shenmecar Why don't mainlanders just go to the states, houses there are so much cheaper. | They are, just finished picking up a couple houses in vegas 
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02-11-2011, 10:57 PM
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#80 | | I answer every Emotion with an emoticon
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Originally Posted by taylor192 I already asked this question.
Some American cities had similar experiences as Vancouver with rich Asians buying property... so when prices dropped it would make sense that they continue buying up entire cities. Yet that has not seemed to happen.
Forgive my stereotype, yet I've heard lots of jokes of Asian families keeping their couches wrapped in plastic. I know that's not universally true, yet it does say something about how Asian culture tries to retain the value of what they own. Do you think the same people who keep their couch wrapped in plastic will want to buy a house decreasing in value? | Haha, so true. My television still have the pastic wrap. It's been almost 2 years. Posted via RS Mobile | |
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02-12-2011, 12:40 AM
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#81 | | WOAH! i think Vtec just kicked in!
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People who think this is a real estate bubble are idiots.
Local people earning 100-200k are NOT the buyers who pay cash/no mortgage on multi million dollar homes -- they are all offshore China people.
And China is exponentially getting richer -- do you think this flood of people is going to plateau?
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02-12-2011, 02:47 AM
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#82 | | I STILL don't get it
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^
That's the general idea but there are certain groups of people who insist that there will be a big burst like in 1981, 1989 and 1995. Trouble is, if the bulk of these buyers are local investors then yes it will drop sooner or later, heck, bubble would have burst long ago.
So long as there is a steady flow of cash rich migrants/investors prices will continue to rise. Unless there is a sudden rule change to foreign/investment purchases or Vancouver just becomes a shithole and is not a desirable place to live in anymore there is no reason why the bubble will burst where there is so much demand.
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02-12-2011, 03:02 AM
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#83 | | I am Hook'd on RS
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Originally Posted by Carl Johnson I am fine with foreigners coming into this country and buy up properties. Because we Canadians do the same as well like in states and Europe. But let's face it, many of these Chinese millionaires who are buying properties here got rich through some type of fraud and tax evasion in the past. If the CBSA and CRA wants to play hard ball and dick around with them, some of these guy could face criminal and civil charges. | er...you are sadly mistaken. Most of these millionaires and business men back in China and they got where they are thru hard work and dilligence...please enlighten me how you can have a fortune by tax evasion?? to evade tax you gotta have the money to begin with.
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02-12-2011, 03:53 AM
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#84 | | Banned By Establishment
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Originally Posted by m!chael 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. | maybe because people are born curious to know what outside forces are causing them to be in a social trap?
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02-12-2011, 03:54 AM
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#85 | | OMGWTFBBQ is a common word I say everyday
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Originally Posted by sundance1911 er...you are sadly mistaken. Most of these millionaires and business men back in China and they got where they are thru hard work and dilligence...please enlighten me how you can have a fortune by tax evasion?? to evade tax you gotta have the money to begin with. | no tax = additional 20-30% profit.
No invoice, no tax, and I am going to stop at that before going into more detailed description
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Originally Posted by Fei-Ji haha i can taste the cum in my mouth | There is a time when you have to sig a post.
It just happened.
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02-12-2011, 03:57 AM
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#86 | | I am Hook'd on RS
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Originally Posted by wouwou no tax = additional 20-30% profit.
No invoice, no tax, and I am going to stop at that before going into more detailed description | yeah...you talk like white people don't evade tax..get over it
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02-12-2011, 04:07 AM
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#87 | | Banned By Establishment
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Originally Posted by sundance1911 yeah...you talk like white people don't evade tax..get over it | wouwou is asian  | |
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02-12-2011, 04:54 AM
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#88 | | I contribute to threads in the offtopic forum
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Originally Posted by achiam People who think this is a real estate bubble are idiots.
Local people earning 100-200k are NOT the buyers who pay cash/no mortgage on multi million dollar homes -- they are all offshore China people.
And China is exponentially getting richer -- do you think this flood of people is going to plateau? |
Yeah anyone who think this is a real estate bubble must be stupid...
2007 would suggest the market here is a bit.. fragile? 
Up to date graph... 
Nothing "bubbly" about those graphs...
I thought this was cute, 
I think I'll stick with people like Robert Shiller (Guy who predicted dot.com crash and US real estate crash.. who is also predicting the same for Canada) and Garth Turner (greaterfool.com) when seeking advice in Real estate... Not Global News.
There is a reason that 0/40, and now 5/35 mortgages have been done away with, cause people are over leveraged against an over-valued asset (Housing). The Govt. has recognized this and is finally doing somehting to quell the record debt-to-income ratios in Canada which are actually worse than our American cousins. Sad thing is, it's more difficult for a price correction to occur in Canada due to CMHC insurance, which basiclly prevents the bank form having a care in the world with who they lend money too. With VRM's getting more expensive as rates creep up, tighter lending standards, and an excessive supply of housing in most parts of Canada... you can expect prices to go down.
If you want to get techinical, RE is already down in the lower mainland and most of Canada, just instead of telling you about the drop in sales during 2010, they tell you the average price of a sale has increased... and it has because the only property's selling right now are on the higher end of the price spectrum, first time buyers are either no longer interested in buying RE, or can no longer get financing.
Have a look at yearly sales 2009 vs 2010, and look at the forecast from BCREA for 2011 lol Surprise they expect RE to jump right back up so NOW IS THE TIME TO BUY!!! (Oh wait according to them "now is always the time to buy") 
I'm sure there is people that disagree with me, any home owner in the lower mainland doesn't like hearing that they are looking at losing the equity they have in their homes. But don't sit there and say how RE is going crazy $$$ and the idea of a housing bubble in Canada is idiotic... because there is a lot of information/data which would point to us potentially seeing a RE price melt over the next decade.
If you're gonna hate, at least come back with something to support your agruement thanks 
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Originally Posted by jasonturbo Follow me on Instagram @jasonturtle if you want to feel better about your life |
Last edited by jasonturbo; 02-12-2011 at 05:20 AM.
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02-12-2011, 05:06 AM
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#89 | | OMGWTFBBQ is a common word I say everyday
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Originally Posted by MajinHurricane wouwou is asian | what he said  Quote:
Originally Posted by sundance1911 yeah...you talk like white people don't evade tax..get over it | they do, but they get caught, there is a reason why no body fucks with CRA.
On the other hand, I am currently working in DG, China right now, and I have picked up QUITE A BIT of TE techs involving currencies and VATs 
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Originally Posted by Fei-Ji haha i can taste the cum in my mouth | There is a time when you have to sig a post.
It just happened.
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02-12-2011, 06:36 AM
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#90 | | I don't like cheese but I love milk!
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Originally Posted by jasonturbo Yeah anyone who think this is a real estate bubble must be stupid...
If you're gonna hate, at least come back with something to support your agruement thanks | your post is kinda confusing....you first suggest no bubble, then you argue prices must go down...?
anyway...these sort of technical view is just too subjective....I've seen sooooo many ppl argued that there was a housing bubble since back in 2005/6, by pointing at those same graph trend and comparing the house prices and affordabliltiy with historical data and with other provinces...
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02-12-2011, 06:40 AM
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#91 | | I don't like cheese but I love milk!
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Originally Posted by wouwou what he said
they do, but they get caught, there is a reason why no body fucks with CRA.
On the other hand, I am currently working in DG, China right now, and I have picked up QUITE A BIT of TE techs involving currencies and VATs | then maybe CRA should start cracking down on those criminals who drives an $100K car and live in a million dollar mansion, yet don't report a dollar in earning...
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02-12-2011, 07:00 AM
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#92 | | Raping Captured Dolphins since 2002 on EZ board days
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Originally Posted by wouwou ]
On the other hand, I am currently working in DG, China right now, ] | You're in DG right now? Meet up in Chang Ping next weekend?
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Originally Posted by asian_XL apparently, freedom of speech does not exist on RS
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Originally Posted by Alphamale I give a lot of people rim jobs. | My Feedback | |
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02-12-2011, 08:27 AM
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#93 | | OMGWTFBBQ is a common word I say everyday
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Originally Posted by RFlush You're in DG right now? Meet up in Chang Ping next weekend? | why the hell would I do that?
their services "sucks"
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Originally Posted by Fei-Ji haha i can taste the cum in my mouth | There is a time when you have to sig a post.
It just happened.
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02-12-2011, 08:34 AM
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#94 | | OMGWTFBBQ is a common word I say everyday
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Originally Posted by Ferra then maybe CRA should start cracking down on those criminals who drives an $100K car and live in a million dollar mansion, yet don't report a dollar in earning... | it's almost impossible for CRA to do that without the help of the Chinese authorities as well as the banking, and tax department to get the full picture on someone's financial status.
and that's not happening, not at a reasonable cost and within a reasonable time frame anyways.
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Originally Posted by Fei-Ji haha i can taste the cum in my mouth | There is a time when you have to sig a post.
It just happened.
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02-12-2011, 08:36 AM
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#95 | | F**K YOUR HEAD
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Originally Posted by Kushy that fat mainlander looks like choji  | Lmao I've known that guy since I was a kid because my dad is in real estate haven't really seen him in a while though. He's always had hair like that even 10-15 years ago.
is it just me or is it pretty pointless to go on a helicopter ride when google earth/streetview is so easily accesible?
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02-12-2011, 08:36 AM
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#96 | | they call me the snowman
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Originally Posted by jasonturbo If you're gonna hate, at least come back with something to support your agruement thanks | after that whole tirade, you fail to recognize that one has to live somewhere. we can't all live in mom's basement until we're 50 years old. consider the costs of long term renting, and you see that if you're not taking an active stance on your investments, you'll end up old, with few assets, and no firm housing established.
i've seen this with our older generation. guys who have been renting for 35 years, and now are coming up to 60 years old. They all recognize that they should have bought years ago.
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02-12-2011, 08:52 AM
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#97 | | I contribute to threads in the offtopic forum
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Originally Posted by Ferra your post is kinda confusing....you first suggest no bubble, then you argue prices must go down...?
anyway...these sort of technical view is just too subjective....I've seen sooooo many ppl argued that there was a housing bubble since back in 2005/6, by pointing at those same graph trend and comparing the house prices and affordabliltiy with historical data and with other provinces... | The comment about no bubble was a satire, and yes I think there is a bubble and it's bound to pop... thought it wont burst like the USA, it will be a slow grind.
Again, my 0.02$
The only people that win when housing balloons is developers, realtors, and mortgage brokers/bankers...so no sane person outside of those industries should want housing to skyrocket.
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Originally Posted by jasonturbo Follow me on Instagram @jasonturtle if you want to feel better about your life | | |
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02-12-2011, 09:30 AM
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#98 | | I contribute to threads in the offtopic forum
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Originally Posted by originalhypa after that whole tirade, you fail to recognize that one has to live somewhere. we can't all live in mom's basement until we're 50 years old. consider the costs of long term renting, and you see that if you're not taking an active stance on your investments, you'll end up old, with few assets, and no firm housing established.
i've seen this with our older generation. guys who have been renting for 35 years, and now are coming up to 60 years old. They all recognize that they should have bought years ago. | In the long run, yes, supply and demand would basically force the increase in prices.
But there is a big difference between buying this year at 600k, and in 3 years at 450k.
PS: I'm a renter, the money I "haven't" spent on a down payment is collecting me an average of about 7% return (Safely), for a similar place to mine with a conventional downpayment/traditional mortgage rates/condo fee's and maintenance I would be spending about an extra 1k/month to own assuming nothing serious goes wrong.
So lets say over three years, if I wanted to sell... between the sad sum that pays down the principle, what the realtor takes, what I have lost to cmhc, what I have spent on maintenance and condo fee's, etc, I would have to sell for the same price i paid JUST TO BREAK EVEN, not a cent more financially ahead.
Where as renting during this time, I saved 50k down, and an additional 1k/month for a total of 36 months (36k)... plus the 7% I made off my 50k year over year and the additonal funds I could add that I saved from the costs of ownership every month getting a similar return.
So after 3 years of home ownership I make nothing, unless housing goes up, and if it goes down I lose money.
Versus my actual situation where over three years I can expect my 50k down to turn into 50k down, 36k saved in monthly costs, and 7% return which at the end of the day would probably work out to something along the lines of an additional 15k made off very safe investments... putting me at 101k...
Housing for some people might be a better way to spend money, but for me it makes more sense to rent. Plus I dont know where my career will take me, so I could be forced into the position of selling... potentially at a loss... real estate is among the most illiquid of all financial assets.. and I don't like that.
But if you don't view your home as an "investment" then none of this matters.
Had to type this quick, sorry if it's kinda fucked up.. point is you are not "throwin away money when you rent".. if you do it the right way.
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Originally Posted by jasonturbo Follow me on Instagram @jasonturtle if you want to feel better about your life | | |
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02-12-2011, 11:04 AM
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#99 | | WOAH! i think Vtec just kicked in!
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Originally Posted by sundance1911 er...you are sadly mistaken. Most of these millionaires and business men back in China and they got where they are thru hard work and dilligence...please enlighten me how you can have a fortune by tax evasion?? to evade tax you gotta have the money to begin with. | You obviously have never heard of the phrase: A penny saved is a penny earned.
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02-12-2011, 01:57 PM
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#100 | | Banned (ABWS)
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Originally Posted by originalhypa after that whole tirade, you fail to recognize that one has to live somewhere. we can't all live in mom's basement until we're 50 years old. consider the costs of long term renting, and you see that if you're not taking an active stance on your investments, you'll end up old, with few assets, and no firm housing established.
i've seen this with our older generation. guys who have been renting for 35 years, and now are coming up to 60 years old. They all recognize that they should have bought years ago. | This advice all depends on where you live, and how you live.
Japan has suffered 20 years of housing declines. Renters would have been far better off than owners stuck paying mortgages worth more than the property, with negative gains.
Germany rents, < 50% own, and they are one of the economic powerhouses. Houses have been flat with inflation for 15+ years cause there are rules against speculation.
I have a couple older friends that have rented their entire lives and are very well off. Its because renting allows them to be mobile and take jobs that pay very well, also to move and escape areas when there are downturns - unlike home owners who are anchored to their location.
There's studies that show if you buy/sell more than a couple times you're actually not doing much better by owning, since so much is lose in the transactions. Considering the average Vancouverite wants to start in a small condo, then move to a home, then have to sell the home for retirement, likely they will move enough times to make owning technically unprofitable - I say technically cause most people will not track the entire history of expenses, only the final profit.
So while I know your comment has been true of the last several decades in Canada, you nor I cannot predict the future. Housing may follow Japan and trap people in wealth traps. Housing my follow Germany and provide no gains if further measures to curb speculation are implemented. Who knows!
I will say that in the short term it does not look good, the deck is stacked against ownership. Renting is cheaper than buying right now, so while older people may regret not buying decades ago, younger people may profit from not buying today and waiting a decade.
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