SMF - Just Installed!
No 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!
Quote from: "Asian Pride"Quote from: "RW"
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.
Quote from: "RW"
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.
Quote from: "Shen Li"The 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.
Quote from: "RW"Quote from: "Shen Li"In 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.
Quote from: "Shen Li"In 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.
The 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!
Before 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"
In 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"
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