....or in other major cities around the world since much of the most expensive real estate in the city is owned by Chinese from Asia?
Will there be a massive sell-off?
Or will the reverse happen - where the foreigh investors see Vancouver real estate as one of the few safe havens left, hang on to their holdings here keeping the prices steady, or going up even more?
Discuss
As of right now we don't know if it is a mere correction of grossly overpriced stocks (a very good thing for everyone beyond those caught with money in it)
or the start of a true crash which could very negatively affect the world
Up To Date - China up today - An end to a needed correction? OR a pause in a violent crash?
CLICK to enlarge
Quote from: "Frank"
Will there be a massive sell-off?
Or will the reverse happen - where the foreigh investors see Vancouver real estate as one of the few safe havens left, hang on to their holdings here keeping the prices steady, or going up even more?
Discuss
Maybe it will encourage more buying of BC real estate as it is seen as a safe haven?
I don't know, I am only suggesting a possibility.
... i think the stock market meltdown in china will actually HELP the real estate market in vancouver and probably elsewhere in canada too. chinese investors will be looking for a safe haven to put their money which will translate into depositing money in our banks and purchasing real estate which will keep prices on an upward trend in the hot markets ...
Quote from: "the shark hunter"
I was wondering the same the shark hunter.
ac_smile
Right. Homes priced miles beyond most all young couples is a good thing.
Once interest rates go up new owners and wannabe owners are fckd even further
How does that make us a good country?
How does allowing such a travesty to our people to happen make us a moral country?
We own our home outright, so will not be personally negatively affected by increases in property cost or interest rates
Despite that I believe we have done a great disservice to the entire young population.
Quote from: "cc la femme"
Once interest rates go up new owners and wannabe owners are fckd even further
... interest rates are going up?
Interest rates always fluctuate over time . Current rates are extremely rare in the overall. At times they have been over 20% and every number in between today and that number
Yes, of course they will rise again. All economic factors are cyclical and every one affects the all the others
Interest rates go up? You can take that to the bank :icon_wink:
Quote from: "cc la femme"
Yes, of course they will rise again. All economic factors are cyclical and every one affects the all the others
... true, might take a while though. what's prime at currently?
Today 2.850 ... this time next year, or next week? Could be any number
Think "cyclical"
Quote from: "cc la femme"
Think "cyclical"
... still room to go lower. or stay the same. what increments does it usually change by?
Quote from: "cc la femme"
Once interest rates go up new owners and wannabe owners are fckd even further
How does that make us a good country?
How does allowing such a travesty to our people to happen make us a moral country?
We own our home outright, so will not be personally negatively affected by increases in property cost or interest rates
Despite that I believe we have done a great disservice to the entire young population.
Home values in Canada are too high. I don't want to see a hard landing, but a country WILL eventually bounce back. The US housing market has came back pretty good without being overheated as it was before the 08 crash.
China is not a real free market. The yuan is not yet a fully convertible currency. It trades within a narrow band. Since that currency cannot be devalued to boost exports and tourism in a downturn they are forced to find other measures. This is a risky move what the Chinese government is undertaking. And it comes on the heels of a property bubble bursting too. If things get too jittery, expect China to implement some draconian capital flight measures.
My brother lose the money in China stocks.
I was watching Face The Nation this morning and no mention whatsoever of the situation in China. Unfuckingbelievable.