Quote:
Originally Posted by kr4l
Problem is, the Chinese are coming in and buying with cash. Only poor people like us would need a mortgage.
It could possibly be an excellent investment. "What if" next year it can sell for $4 million? That's a million in one year, way more than what that guy is pocketing.
It sure beats buying that 100 year old shack in Vancouver a few pages back for like 2.5 million.
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better question is how the hell can they bring that much cash in such short amount of time when there's these "supposed" limits on how much they could bring out of china or in to Canada
this link shows one:
Follow the money: Evidence submitted at fraud probe points to concerns about Vancouver real estate market
but it can't be the only way... other than having 10,000 friends and family to transfer the money to them...