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Originally Posted by flylock shox
I think the girl in the video summed it up pretty well: Vancouver is between China and Canada. For a wealthy Chinese person it has everything. Clean air, water, and natural surroundings. Great exchange rate getting better all the time. Stable, democratic country. Minimal barriers to entry. Great investment in addition to being a great way to move large sums of money. High Chinese population already. Direct flights to most major Asian cities.
There is no bubble in Vancouver. It's only going to go up and up from here. Not at its present rate, but consistently, as it has for the past 15 years or so. And Vancouver will become a city of young professionals and oligarchs. Schools will close. New ones will open up in Surrey where families actually live. Businesses will move into the Valley to better accommodate their employees and avoid the insane rents.
It's all predictable and it's part and parcel of being an international Pacific Rim city. People are just going to have to figure out whether it's worth it to them to live here.
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Don't be foolish, it's huge freaking bubble, mostly because the Chinese that are buying the houses have little experience of real estate markets, we tend to forget there only been allowed to own property in China for a reletively short time, they like you, just assume the markets always go up, it won't, it'll pop, the market will drop five or ten percent, the Chinese will freak out, it will then drop thirty or fourty percent in a few months.
All markets drop eventually but most older mainland Chinese investors haven't really ever seen this.