It doesn't matter how much it went up, it's still a crash. That's not what "western media" calls it, it's what it literally is. FailFish

Prior to the 2007 US crash, I heard lots of stories of people in the US were doing that.
Bought a $200K house in Riverside, CA. Value shoots up to $400K so they get a second mortgage and buy a Hummer, fancy furniture, holidays.... :heckno:

Then we better see a recession or depression as days follows as that's normally what a real crash is.

This is more of a correction than a crash to me.

Whatever you want to call it I guess... Media here is covering it the same way as there. Don't look for reasons to be mad where there are none is all I meant to say.

The mainstream media here is bias as hell as always pertaining anything to Russia and China.

How do you think that news is covered in Russia and China? Keeping in mind that there is no free press in either of those countries - media is all state run. No bias there I'm sure!

I read propaganda from both to form my own opinion. Your average joe don't.

Propaganda only comes from one side... The other may or may not have a bias, it depends on the source.

The only reason to read state run media is for the comedy, IMO.

this is good news for current home owners in vancouver. we can expect home values to only remain steady rise in the coming years. vancouver RE is like the ideal substitute good to holding stocks

DNothing in the article talks specifically about people putting up loans on their homes for luxury cars.

While I don't doubt that this is happening since us North Americans are dumb with our money but I don't think its a key player in why BC is up 50%. I believe it's mainly because of the influx of mainlanders and mainlanders kids with mommy and daddy money, others because BC has the best weather for super cars, and also the Canadian dollar being low which also boosts some sales from US customers from the west coast

While that is true, one has to wonder where is the money coming from?
If my house goes up, which it has over the last few years, I'm actually poorer for it based on higher property taxes. If my house goes up on paper, I'm not earning any more than I was prior to the bump.

Unless you take into account the one thing that paper value will give you, and that is higher leverage for borrowing.

http://www.capitaldirect.ca/images/h...ey-515x410.jpg



The Globe and Mail article on the subject is a lot more in depth than the CBC article and it goes into detail about the factors.

It comes down to consumer confidence being very high, just like it was in the US in 2007, a year prior to their major crash.

British Columbia?s luxury car boom is in full swing - The Globe and Mail

I bought a GMC Typhoon(Mistake, they are money pits to the extreme!!!) off a guy who rode the real estate boom up. He had one house that tripled in value in like 3 years, then mortgaged it to the tits to buy like 5 properties and build 5 houses or something on it, an entire cul-de-sac

Then the crash started early in Colorado and he had to sell all the toys to survive, I think he even lost his original house...

Yeah but it destroys the social fabric of your city, people cannot afford to have children so many people drown themselves in liquor, drugs and hookup sex!

that just sounds like a normal friday night at the Roxy, bud

Just over 7 billion people on this earth,

I don't think we need more kids.

we need more kids.

to create more real problems.

so we can solve those real problems, therefore become more advanced.

imagine the technology needed to sustain like 18 billion people on this planet or something.

To think, Colorado is in a housing boom right now.
Colorado home prices rising at fastest rate in country - The Denver Post

We don't need any more people. This planet is already over-populated. For the rest of the world to have our living standards here in Canada. We need a population of 3 billion.

should we all be concern about china having a crashed with the market? If I dont have any money invested with china I shouldnt care right?

Face it, us poor folks in Vancouver are just HOPING this 'crash' helps our real estate problem. Reality is (and deep down you know it too), this 'crash' is unlikely to change anything in this overpriced city.

You may not have any money invested in China, but your employer, your clients, city, friends might have. So yes you should care.

I want someone to carry on my traditions, way of life, and care for me when I'm too old to chirp 2nd...





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Who am I kidding I'll never be too old to chirp 2nd :hat:

buy low
sell high

Supposedly a good time to find some deals on the Hang Seng.

That's like saying if I don't have money invested in NASDAQ (US stock market), and it crashes. It shouldn't affect me.

It did and it will.

China is too intertwined with the world economy. If China's economy crashes, it will take everybody else along with it, just like the US back in '08.

When and if China crashes, it will affect more than just real estate in Canada. it will affect our cost and standard of living.