Quote:
Originally Posted by !LittleDragon
If I owned a place in that area, that study would probably lump me in with foreign owner. Been here 35 years and I never bothered with an Anglophone name. Does anyone truly believe .5% of the sales in Vancouver is representative of the whole market? I can show with selective stats that eating rice causes black hair.
|
Quote:
Originally Posted by noclue
they should do a study in the newtown area of surrey and conclude that indians are buying up the lower mainland.
Vancouver west has always been an expensive area anyway regardless of foreigners so I don't get why people are in an uproar over a high end market, even if it drops 50% they can't afford it anyway.
|
Cause they're not just buying on the west side.
They're also buying up all the detached homes in east van, metrotown, capitol hill, coquitlam, burke mountain.
This is the problem, there's always people that try to deny the facts. We are still debating that Foreign money is not playing major role. Everyone in the industry knows it does. Most people in Vancouver know it. If the government actually collects the data like they do in other countries they will find the same conclusions. Like another user said, the sky is blue. . .
We have people saying untrue info like this only represents .5% of all sales in Vancouver? WTF?
Also it's not the percentage of sale transactions in Vancouver that matters, it's the % of absolute dollar value. Detached homes cost millions more than apartments, and represent a disproportionately larger % of capital.
People are in an uproar cause it's causing a trickle down effect. High housing prices can cause many social and economical problems - talent moving out, businesses moving out, lack of community, risks of crash and economic downturn, debt issues . . . we've discussed it plenty in this thread.
Not to mention these housewives and students are probably evading capital gain or transfer taxes and possibly assisting in sheltering corrupt or illicit funds from China.