Quote:
Originally Posted by Winsor_Pilates
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
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It was likely much greater than 20%, as that number does not include proxies.
Reference to all, would be the number of available units. In a properly functioning real estate market 100% of new until do not get absorbed, there is typically a percentage of unsold units.
Also, even if it wasn't "all", 20% is more than enough to heavily skew a real estate market and put the homes out of reach for the vast majority of locals.0