Quote:
Originally Posted by blankall
CBC news.
https://www.cbc.ca/news/canada/briti...ures-1.4456657
I don't get why there's so much residence to recognizing this fact. It's also not just Vancouver. It was a global market phenomenom, where every hot real estate market in the world was hit with a massive surge of foreign investment from 2015-2018. That investment then dried up overnight when China cracked down on capital exports.
Vancouver saw housing prices rise dramatically. They've now fallen to 2016 levels, but are likely to go further. It was the same pattern in London, New York, Sydney, San Francisco, Seattle, Toronto, etc... |
The resistance is that these aren't facts, and it's annoying when people who have no idea who's actually buying real estate make exaggerated statements that are incorrect and claim them to be "facts".
While what you're saying about Chinese capital is true, extrapolating it to statements like "The amount of capital flooding into the country was enough to absorb
all of the new condos" is very misleading and non productive.
Even if the 20% was correct (which it's not); you've somehow stretched 20% to 100%
What about the other 80% of buyers?
What about the other areas of Metro Vancouver that are all under 9% in your link?
I guess what you meant to say was
The amount of capital flooding into the country was enough to absorb 2-20% of the new condos