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Vancover RE market crashing

By LarryPatrickMaloney follow LarryPatrickMaloney   2016 Aug 18, 4:02pm 6,383 views   25 comments   watch   nsfw   quote   share    


http://www.zerohedge.com/news/2016-08-18/vancouver-housing-market-implodes-average-home-price-plunges-20-1-month-market-devas

While August is typically one of the slowest months for real estate transactions, MLS sales data from the first two weeks of the month shows what many have been hoping for during the last few years of escalating prices. According to realtor Brent Eilers, using MLS listing data, there were only three home sales in West Vancouver between Aug. 1 and 14 this year, compared to 52 during the same period last year.

#vancouver

1   The Original Bankster   ignore (2)   2016 Aug 18, 4:05pm     ↓ dislike (0)   quote   flag      

Vancouver Market = CHINESE MONEY.

they are pulling out.

2   exfatguy   ignore (0)   2016 Aug 18, 4:22pm     ↓ dislike (0)   quote   flag      

Yeah, they're selling, but obviously someone is buying.

It's just money exchanging hands with a lot added on each transaction.

Rents will still rise.

3   The Original Bankster   ignore (2)   2016 Aug 18, 4:23pm     ↓ dislike (0)   quote   flag      

if the price is plunging then buyers are more scarce and sellers are more plentiful.

4   exfatguy   ignore (0)   2016 Aug 18, 4:25pm     ↓ dislike (1)   quote   flag      

Just pass a law that says a house can't sell for lower than it sold for previously. That'll correct it.

5   The Original Bankster   ignore (2)   2016 Aug 18, 4:28pm     ↓ dislike (0)   quote   flag      

exfatguy says

Just pass a law that says a house can't sell for lower than it sold for previously. That'll correct it.

that would cause a massive collapse.

would you buy an asset that you were prohibited to sell at a lower price and forced to hold onto it and maintain taxes?

6   APOCALYPSEFUCKisShostakovitch   ignore (52)   2016 Aug 18, 4:38pm     ↓ dislike (0)   quote   flag      

Impossible

ONE BILLION FUCKING CHINESE ARE DYING TO BUY INTO VANCOUVER!

7   The Original Bankster   ignore (2)   2016 Aug 18, 4:39pm     ↓ dislike (0)   quote   flag      

if they see the political tide turn and know they can no longer buy out canadian politicians to make it easy for them to live there and suck off the economy they will sell.

8   anonymous   ignore (null)   2016 Aug 18, 5:13pm     ↓ dislike (0)   quote   flag      

The Original Bankster says

they are pulling out.

I wish I had pulled out. Bastards.

9   The Original Bankster   ignore (2)   2016 Aug 18, 5:30pm     ↓ dislike (0)   quote   flag      

just any guy says

I wish I had pulled out.

youre stuck with VC property?

10   anonymous   ignore (null)   2016 Aug 20, 12:10pm     ↓ dislike (0)   quote   flag      

The Original Bankster says

youre stuck with VC property?

No, stuck with bastard children.

11   The Original Bankster   ignore (2)   2016 Aug 20, 12:15pm     ↓ dislike (0)   quote   flag      

just any guy says

No, stuck with bastard children.

funny how they never exercise their 'freedom of choice' to abort when the Dad has money

12   HydroCabron   ignore (1)   2016 Aug 20, 12:16pm     ↓ dislike (1)   quote   flag      

Okay, I just ran a multivariate regression analysis of Vancouver market data, and have some interesting conclusions to share.

The problem is that the buyers are homosexual Mexican Islamic extremists who hate Canada.

13   anonymous   ignore (null)   2016 Aug 20, 12:20pm     ↓ dislike (0)   quote   flag      

The Original Bankster says

funny how they never exercise their 'freedom of choice' to abort when the Dad has money

Yep, it's a gravy train. It's interesting how evil and selfish one becomes when an unethical opportunity presents itself to better themselves off at the expense of another human being.

14   mell   ignore (4)   2016 Aug 20, 1:48pm     ↓ dislike (0)   quote   flag      

just any guy says

The Original Bankster says

youre stuck with VC property?

No, stuck with bastard children.

Haha, that was damn funny.

just any guy says

Yep, it's a gravy train. It's interesting how evil and selfish one becomes when an unethical opportunity presents itself to better themselves off at the expense of another human being.

It's the good old opportunity makes a thief paradigm. I hope at least they are your bastards.

15   anonymous   ignore (null)   2016 Aug 20, 6:56pm     ↓ dislike (0)   quote   flag      

I'm kidding. No bastard children.

16   Ceffer   ignore (5)   2016 Aug 20, 8:12pm     ↓ dislike (0)   quote   flag      

This is where Roberto diversified. 'Nuf said.

17   quasimodo   ignore (0)   2016 Aug 21, 7:08am     ↓ dislike (0)   quote   flag      

There has been a recent and interesting dynamic in play that is affecting Chinese participation in real estate and equity markets outside of mainland China. I was involved in a real estate purchase last week which involved a sister-law who was giving a family member a gift for part of the down payment for the home purchase of a young couple in the US. The sister in law was Chinese and had a large savings account at the Chinese Merchant Bank, one of the larger banks in China. As we were getting ready to close, when the sister-in-law attempted to wire the funds to the escrow company, the Chinese Bank informed her that the Chinese government tightened their banking regulations a few months ago. They were now limiting money that could leave a private individual's account to $50,000 US in one year if the money was leaving China. Also the wired funds could not go to a securities dealer or real estate transaction such as an escrow company. She could wire to a private bank account in the US but again it would be limited to $50,000 a year. This will slow down Chinese purchase or involvement in private international real estate transactions.

18   Ceffer   ignore (5)   2016 Aug 21, 2:03pm     ↓ dislike (0)   quote   flag      

I remember those days before the perpetual Japanese stock market crash. Japanese banks would give loans to doorposts. Japanese would invest in any LA property at grossly inflated values. Sharpies sold the Japanese all kinds of building, shopping centers, resorts, golf courses etc. at grossly inflated prices. Some of the original sellers bought the same properties back a few years later after the Japanese crash at pennies on the dollar.

20   MMR   ignore (0)   2016 Aug 21, 3:53pm     ↓ dislike (0)   quote   flag      

just any guy says

Vancouver, WA

Yeah that's like saying concord is 164/sf

21   anonymous   ignore (null)   2016 Aug 22, 7:51pm     ↓ dislike (0)   quote   flag      

Ouch, that's embarrassing.


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