Quote:
Originally Posted by Fighting Banana Slug
Honestly, looking at the various factors, how could it not burst? Even without the new taxes, just the extra scrutiny banks should be doing in that market could send that market tumbling. I don't think a 40-50% drop
is out of the question.
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How many bad loans are out there for you to throw out a 40-50% drop?
Despite the latest click bait news article, this is the least of Vancouver's housing problems.
In actual practice, most banks are very particular on the requirements needed for foreign purchasers.
Every foreign buyer I've ever worked with has had to supply 2 years of tax assessments, pay stubs, and all the other items every local buyer has to. In addition to being at max 65% loan value.