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J____ · 07-09-2017, 03:36 AM

Also, I have to say it's easy for the government to make housing affordable for the locals if they really wanted to. They can easily make regulations so that if you want to buy a house in the lower mainland, you'll need to have an X amount of years in the local workforce paying tax before you can purchase a house. That'll drive out 90% of the foreign investments. They don't do this and instead apply a 15% tax for foreign investments and also introduce income tax on 2nd,3rd,4th property because THEY WANT THE TAX REVENUE from the increase in price and sales. In media they're going to say all the crap about how they'll change regulations blah blah blah to get your vote, but in reality locals are nothing to them compared to the foreign cash cow that'll fill their pockets. So no, the bubble isn't going to burst anytime soon, at most the government will think of a half-ass regulation to make you think they're doing something for the locals where in reality they're still going to leave some loophole so money can continue to trickle. Do you know how easy it is for new immigrants to get a loan? You can have no job, no real record of income, no property, and still walk out the door with at least 500k mortgage for a 1 million dollar home. I've been in Canada for 30 years and if I had no job no way in hell I'd get that kind of cash from the bank. Even with a 800k condo last year, I was only able to get max 300k line of credit. The government is not dumb, if they really wanted to they could of fixed the 'housing crisis' years ago before it even happened. If they do something significant to affect prices now or in the future and the bubble did burst, Vancouver will turn into Detroit and will have an economic crisis. Not only will people sans homes will be in trouble but all the current home owners will be in shit too. Housing will always go up, never down. Only thing that might happen is the increase will happen slowly rather that at the crazy rate we've been seeing. If you can't afford to buy now, chances are you'll never be able to afford a house unless you somehow significantly increase your income or move away. Simple as that.

07-09-2017, 03:36 AM	#10099
J____ I heart Revscene.net very Muchie Join Date: Dec 2007 Location: Shanghai Posts: 3,586 Thanked 957 Times in 367 Posts Failed 356 Times in 87 Posts	Also, I have to say it's easy for the government to make housing affordable for the locals if they really wanted to. They can easily make regulations so that if you want to buy a house in the lower mainland, you'll need to have an X amount of years in the local workforce paying tax before you can purchase a house. That'll drive out 90% of the foreign investments. They don't do this and instead apply a 15% tax for foreign investments and also introduce income tax on 2nd,3rd,4th property because THEY WANT THE TAX REVENUE from the increase in price and sales. In media they're going to say all the crap about how they'll change regulations blah blah blah to get your vote, but in reality locals are nothing to them compared to the foreign cash cow that'll fill their pockets. So no, the bubble isn't going to burst anytime soon, at most the government will think of a half-ass regulation to make you think they're doing something for the locals where in reality they're still going to leave some loophole so money can continue to trickle. Do you know how easy it is for new immigrants to get a loan? You can have no job, no real record of income, no property, and still walk out the door with at least 500k mortgage for a 1 million dollar home. I've been in Canada for 30 years and if I had no job no way in hell I'd get that kind of cash from the bank. Even with a 800k condo last year, I was only able to get max 300k line of credit. The government is not dumb, if they really wanted to they could of fixed the 'housing crisis' years ago before it even happened. If they do something significant to affect prices now or in the future and the bubble did burst, Vancouver will turn into Detroit and will have an economic crisis. Not only will people sans homes will be in trouble but all the current home owners will be in shit too. Housing will always go up, never down. Only thing that might happen is the increase will happen slowly rather that at the crazy rate we've been seeing. If you can't afford to buy now, chances are you'll never be able to afford a house unless you somehow significantly increase your income or move away. Simple as that. __________________ yolo Last edited by J____; 07-09-2017 at 05:03 AM.