Quote:
Originally Posted by 4444
that's absolute BS. the right fundamentals are around about as much as they're not. Just look at the states for the last 6 years - fundamentals have been all on the buyer's side. Before 2001, 2002, the fundamentals in Vancouver had been right for about 2 decades or so. This recent run up since then has been a recent thing, and is not the new norm. Just so we don't forget, there was a huge influx of HK money from the early 90's... yet prices only started running up from 2001... 2001, dot com bubble burst... low rates started to come in and have been here ever since. But idiots will believe what the media feeds them, stories of magical HAM (one week, then next week it's newspaper stories of locals buying up all the real estate - how do you HAM humpers respond to that?)
And looking at your neighbourhood having 6 new Asian familes moving in. First off, Vancouver is what, 50, 60% asian, how do you know these people weren't born and raised in Canada, or moved here from HK 20 years ago? What says they're the HAM from offshore?
Again, anecdotal evidence isn't evidence at all.
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Any hack can read a balance sheet, income statement, or understand the "right" fundamentals, but anyone that is in business understands that when purchasing a business, property, or stock, you have to understand the potential upside before the numbers line up to buy. You sure talk a big game. When the agencies give "buy ratings" you have already missed the boat.
Keep talking about how the Greater Vancouver market is going to crash and how all these "one off" ocurrances keep propping up the market. Everyone has been saying the market is going to crash for the past 25yrs. When I bought my house in Vancouver I never expected it to appreciate much. I bought it for other reasons. I will keep enjoying my life in Vancouver and appreicate the unforseen gains in property value.