Quote:
Originally Posted by Tapioca
Look at what happened to the Occupy movement.
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KONY 2012 Nvr 4get.
People tend to talk about chinese investment like its the only factor. You see a line up of 1000 people to get some shoebox condo, and 600 of them are chinese, it doesn't mean they are all investors. We happen to have a shitload of people with chinese heritage who are canadians now, that are looking for their first (horribly overpriced) homes just like everyone else. Cheap money is a huge factor. Investment (not nearly all foreign) is a huge factor. Fear of being left behind I would believe is the biggest factor. You've got people who actually believe that it will never go back down, when time and time again, people think that about every aspect of the stock market and get proven wrong, with often dire consequences.
On another note. The identical unit in the new phase of my condo building is 16% more than I paid for mine. The new unit also has a shittier view/placement. That was in 8 months.