Fuck em. Atleast this way I'll get to satiate my love for seeing luxury cars wrecked.

the people we should really be mad at is the federal and provincial governments. it is THEIR responsibility to keep housing affordable for its residents and they are failing that in every respect. foreign ownership laws should be much stricter than they are now.

too bad all the government sees are millions of tax dollars pouring in from new developments :(

you mean fuck yourself for not being able to make enough money to own property in a city that you want to live in?

fucking hell, i was planning to move near downtown vancouver on the west side, or west van, just to get away from richmond/richmond drivers

Canada absolutely needs immigrants to support much of the infrastructure we all take for granted. Think about it this way: These people that are coming in and spending millions of dollars are spending more in taxes that go towards things like Health Care and transit than the majority of the members on RS combined will contribute in half a dozen years. Like it or not, we need rich immigrants to effectively pay for our medical bills, our roads, our TV (okay, HNIC since that's on CBC, a publicly owned station), etc., etc.

Are people like those talked about in the OP's article the reason why house prices are super high? Partially, yes, but not entirely. Sure, the large majority of us will never buy a $5mil+ house, myself included. However, there's always the trickle down effect. Two neighbours living side-by-side both have their houses on the market, both with the same price. One has a bidding war and it sells for 50% more than asking price. The next door neighbour will then think their house is worth just as much, so they jack up the price. Someone two blocks away in a slightly less desirable house see's their neighbours houses going for much more, so they then decide that market value for their house will be that much more. And so forth and so forth down the line.

The other issue is that the Lower Mainland has a very limited amount of space. Think about it; there's an ocean to the west, a mountain range on the east, the USA border to the south, and hickville to the north. The majority of usable land has already been built upon and if you build on what's left, it will begin to destroy the natural beauty that drove people to live here in the first place. Cities need to build up, not out. I hate skyscrappers with a passion, at least as a residential zone, but it's realistically the only alternative to keeping housing prices at a relatively decent level.

Vancouver is also a popular destination. People can compare Vancouver to places like New York, Paris, and London when it comes to housing prices. No, we're not as expensive as the aforementioned cities, but think about what people there feel when they're unable to move into the respective downtown centers. I would never feel like I'm entitled to a cheap, ocean view apartment in New York, just as I don't feel like someone owes me a cheap house in West Van. Desirability drives up prices, whether you like it or not. And as for people buying properties to flip? Those who are buying $1mil+ homes to flip aren't targeting first time buyers. Hell, even those buying $600k homes to flip usually aren't intentionally going after first time buyers. If you so badly need a brand new home as a first buy, there are hundreds of apartments going for between $2-300k in the Lower Mainland.

And if you still want a four bedroom, three bath house on the Ocean for under $200,000... then move to Nova Scotia.

Money can't buy class.

That's all I can say about most rich Chinese people around the world.

Fixed.

You can usually tell when someone has new money vs old money.

Or poor RS complainning :fullofwin:

Taylor, can you provide link to a reliable source?

I can't seem to find a creditable source on this topic.

Not exactly.
A bunch of those Mainlanders buying these 2-5+ Mil Houses are on welfare. It's almost common knowledge for most Asian circles. It's fucking disgusting, and the government does nothing about it.

Worst case scenario? Wifey moves here into the new house. Kids get into school. Husband divorces her.

Wife gets Welfare cheques, and child support from the Husband.

lol they don't even need to do that. Since the wife won't be working so she is consider low income - free health care, child support + tons of other benfits. The gov. should be more smarter is like come on if you are no income how can u afford to live in a million dollar house@@

for fuck sakes, just shut the fuck up.
you know nothing on how the economy works in china. corruption money is hardly anything compare to the money ppl earn legit. There are villagers become millionaires over night becuz their property becomes a site for re-development.

my family have close to $1B in cash reserve that could not be taken out of china legally. pretty much any money earned in china could not leave the country. of course I can use those underground banks to transfer my money.

oh btw, no one bribes people in cash anymore

seriously, you probably never even been to china, let alone talk about how ppl do business.

$1B yen or $1B gold in WoW @@

you cant take money out but of course there are ways to take money out? rofl are you fucking ok? you're openly contradicting yourself....


my family are partners with the people you'd only hope to one day be able to kiss up to so please stop with your bullshit; hell if you knew who my family was you'd be kissing my ass lol

you've proven time and time again that you dont know anything and bullshit the rest of the time

please keep quiet ;)


(see that's some of your own crazy medicine)

Deng is the real hero, not Mao.
 

It was Deng who saved China, introducing market economy, reversing Mao's damages done all these years. The white/black cat saying came from Deng, not Mao.

After Mao's death in 1976, Deng fought for his power and overthrown Mao's successor, Hua in 1978.

Mao's leadership in China was indeed a mess, people tend to forget how poor China was under his rule, there was widespread famine, no property ownership rights, and Chinese were not allowed to leave China.

I guess you don't under stand the word legally and illegally

maybe I really should keep quiet. debating at an idiot is nothing proud of.

btw, one of my business partner is the no.1 richest guy in WenZhou. I'm pretty sure I'm more connected than you, Since I am already doing billions dollars worth of business in China and you are still driving a celica. keep your bs to yourself

^
well just wait till he betrays you, as im sure u know what wenzhou is now famous for after last year :troll:

and you dont seem to understand that i specifically noted there are ways to get it out both legally and illegally... even Douglas College found a way to get their money out legally if you were involved with business at all you would know how...

rofl bwahahaha keep your BS to yourself you'd be doing the entire forum a favour for once (if its true at all, as you said your family is doing the business, not you, your family. you wouldnt be peddling some iphone4s if you were)

btw my uncles trophy wife, her family is the richest in wenzhou that's really nothing special... as noted in the past i have dinner at Lais apartment when he was in vancouver because my cousin and he were business partners &
my family have been partners with the premiers and their families when your family was still selling fish balls out of a cart

what you haven't seemed to learn though is none of that is special on here in RS it just makes you look like a crazy douchey kook... (hence your title)

again please keep your bs off this site for once, please; everyone can tell stories, no1 knows if its true or not... and no1 cares because this site isnt for that... you want to keep up your bs go make an account on Vansky and join the other douches



and taking a dig @ celicas? :tantrum so what if i still keep and maintain it? you're still driving a yaris... again none of that matters on here it just furthers the stigma that RS has of you...

At the end of the day, when those Chinese guys show up, you know who the real winner is?

That real estate agent!

Where do we have a law that states it is their responsibility? If we want it, its our responsibility to get our government to enact these laws, yet no-one has.

Foreign ownership rules did not help Australia, nor other countries, as the problem is US, not them. We're greedy and bid up the prices of the next great thing trying to get rich. First financials in the 80s, then tech in the late 90s, then housing, now commodities, and next education and health care.

Germany has an excellent system to keep prices down, by taxing your primary residence heavily when sold if you haven't lived there long enough. This essentially cuts flippers and speculators out of the market, and their prices reflect this. German real estate has averaged only inflationary gains for the better part of 2 decades.

Moreso, < 50% of Germans own a house, cause its not profitable to do so. They rent, which gives them more mobility in down markets to find jobs - again another huge plus.

Municipal governments especially. The taxes paid by existings neighbourhoods are not enough to support them, so by ever expanding they can keep taxes down and rape new developments for fees to subsidize existing developments.

Expect property taxes to increase if the bubble pops and building stops.

My friend in Perth, Aus has been sending me links to properties priced less now than when she was looking last year, and stories that prices are down. I delete them, yet I'll scan my inbox later to see if I can find some.

I corrected your post.

The Conservatives are changing the immigration system cause it is broken. Canada has been receiving ~80% return on each new immigrant since the laws were loosen a couple decades ago cause the quality of immigrant has decreased. Ie we are losing money on each new immigrant by subsidizing services for them as they do not earn enough to pay for 100% of their cost to society - nevermind add to society like you're wrongly assuming.

For those thinking I'm being racist, don' bite my head off unless you understand my argument. We used to have a very tight immigrant policy that rewarded immigrants with skills, that was loosened a few decades ago letting virtually anyone in regardless if they offered any benefit to Canadian society. There's TONS of studies on this, I welcome you to read them.

There's lots of land, that myth gets debunked over and over. Look around at the construction, tons of density going up and Surrey will eclipse Vancouver in size cause there's tons of room to expand.

all i hear in this thread:

What's wrong with you? You cannot even write a proper sentence, you shouldn't be trying to give people a "taste of their own medicine".

:facepalm:

somebodies still butt hurt i see from the anal raping :)