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Posted by Anonymous
- January 24, 2016, 07:38:27 PMNo problem with 100 year mortgages! The kids just take over the payments!Quote from: "Asian Pride"
Maybe soon they'll implement 1,000 year mortgages!
Mainland money is paying cash for the economic security of Hong Kong.
Posted by Asian Pride
- January 24, 2016, 06:43:46 PMMaybe soon they'll implement 1,000 year mortgages!
Posted by Anonymous
- January 24, 2016, 06:41:52 PM
Foreign ownership is a problem because so many places sit empty which is actually bad for local economies. There should be people in those buildings who are shopping in our stores, etc.The issue is more in strata restrictions on rentals than who owns the place.Vancouver already has a shitty rental situation which is due in part to foreign ownership.
This is false. The Strata Act here in BC has been amended a few years ago (2010 I think?) regarding this. A Strata can no longer disallow owners to rent out their units.
What a stupid rule to have in the first place. Here, it's up to the condo association. We own a condo up in Fort Mac and I would say at least a third of the units are rented out. It could be higher. Some condo regs forbid, but it happens anyway. However,non resident ownership is not all great. The mainland frenzy to buy land in Hong Kong has made home ownership well out of reach for nearly everyone except tycoons.
Posted by Odinson
- January 24, 2016, 06:25:17 PMPosted by Asian Pride
- January 24, 2016, 05:42:13 PM
Foreign ownership is a problem because so many places sit empty which is actually bad for local economies. There should be people in those buildings who are shopping in our stores, etc.The issue is more in strata restrictions on rentals than who owns the place.Vancouver already has a shitty rental situation which is due in part to foreign ownership.
This is false. The Strata Act here in BC has been amended a few years ago (2010 I think?) regarding this. A Strata can no longer disallow owners to rent out their units.
Posted by Asian Pride
- January 24, 2016, 05:39:50 PMYou fuck with the foreign influx of $$$, you fuck with current values, which many home owners here may not want...
Posted by RW
- January 24, 2016, 05:39:18 PMThe values here will remain a solid investment for some time yet, IMHO.Quote from: "Asian Pride"
My parents own a detached on a quarter acre here... It's assessed value has increased at a mind blowing level every year recently. Realtors are actually going door to door looking for potential sellers.
I am an only child. Not to sound grim or greedy, but when they kick the bucket:KA-CHING!
Oh, I agree. Torpnto and Vancouver will do well for a while yet. There are a few things that could derail it of course including legislative restrictions on foreign ownership. At some time it will come down back to earth. The question is will it be a soft landing or a thud.
Foreign ownership is a problem because so many places sit empty which is actually bad for local economies. There should be people in those buildings who are shopping in our stores, etc. The issue is more in strata restrictions on rentals than who owns the place. Vancouver already has a shitty rental situation which is due in part to foreign ownership.
Posted by Anonymous
- January 24, 2016, 05:36:57 PMIn a nutshell, as long as the Chinese yuan keeps flowing into this marketplace, it's a pretty solid investment here, IMHO. And boy oh boy, do the Chinese ever love it here!Quote from: "Asian Pride"
Chinese millionaires do not have a lot of confidence in the mainland for a quite a few reasons. They are looking for safe investments/places to park their cash. House prices in Hong Kong makes Vancouver look like a fishing village in New Brunswick. As long as that is the case and as long as we allow non residents to to invest freely, Vancouver and Toronto homeowners are in the driver's seat.
I foresee some changes in the future to foreign home ownership in Vancouver.
I do too.
Posted by RW
- January 24, 2016, 05:36:19 PMIn a nutshell, as long as the Chinese yuan keeps flowing into this marketplace, it's a pretty solid investment here, IMHO. And boy oh boy, do the Chinese ever love it here!Quote from: "Asian Pride"
Chinese millionaires do not have a lot of confidence in the mainland for a quite a few reasons. They are looking for safe investments/places to park their cash. House prices in Hong Kong makes Vancouver look like a fishing village in New Brunswick. As long as that is the case and as long as we allow non residents to to invest freely, Vancouver and Toronto homeowners are in the driver's seat.
I foresee some changes in the future to foreign home ownership in Vancouver.
Posted by Anonymous
- January 24, 2016, 05:34:30 PMThe values here will remain a solid investment for some time yet, IMHO.Quote from: "Asian Pride"
My parents own a detached on a quarter acre here... It's assessed value has increased at a mind blowing level every year recently. Realtors are actually going door to door looking for potential sellers.
I am an only child. Not to sound grim or greedy, but when they kick the bucket:KA-CHING!
Oh, I agree. Torpnto and Vancouver will do well for a while yet. There are a few things that could derail it of course including legislative restrictions on foreign ownership. At some time it will come down back to earth. The question is will it be a soft landing or a thud.
Posted by Asian Pride
- January 24, 2016, 05:26:58 PMMy parents own a detached on a quarter acre here... It's assessed value has increased at a mind blowing level every year recently. Realtors are actually going door to door looking for potential sellers.
I am an only child. Not to sound grim or greedy, but when they kick the bucket:
Posted by Anonymous
- January 24, 2016, 05:20:46 PMBefore I owned, I had a valid issue with the influx of the yuan driving up the prices here excessively. Now that I own, well... It's different.Quote from: "Asian Pride"
Speaking of the renminbi, if China allows a broader trading range or worse abandons the peg altogether expect a mass influx of Chinese money into Vancouver.
Posted by Asian Pride
- January 24, 2016, 05:18:42 PMPosted by Anonymous
- January 24, 2016, 05:16:40 PMIn a nutshell, as long as the Chinese yuan keeps flowing into this marketplace, it's a pretty solid investment here, IMHO. And boy oh boy, do the Chinese ever love it here!Quote from: "Asian Pride"
Chinese millionaires do not have a lot of confidence in the mainland for a quite a few reasons. They are looking for safe investments/places to park their cash. House prices in Hong Kong makes Vancouver look like a fishing village in New Brunswick. As long as that is the case and as long as we allow non residents to to invest freely, Vancouver and Toronto homeowners are in the driver's seat.