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Vancouver's Real Estate Bubble Trouble

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'Coal Harbour Resident' Jun 25, 2010 12:59 AM GMT 'It the paragraph approx 4th from the bottom re CMHC 40 and 35 "months" should be "years".I live a 5 minute walk from the Classico bldg noted in the last paragraph. It is nice but, like many of these condos, I don''t get the pricing. Even with the rich Chinese - and they have been flooding in for years - and all the drug money in the city...makes no sense.Frankly, I''m hoping for "Phoenix Style" price collapse then I can afford a place in the city of my birth.'
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'Gary' Jun 24, 2010 10:40 PM GMT '2% above inflation is still unsustainable considering wages haven''t really been keeping up with inflation either way. I''m a bit disappointed that the author didn''t show the that all the bullspeak in Vancouver were the same excuses used all over the US bubble markets before they went poof. "it''s different here." "rich foreigners buying everything" "this is the best place on earth" ad naseum'
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'sallysmith' Jun 24, 2010 8:33 PM GMT 'I live in Vancouver and house prices have basically TRIPLED over the past ten years. Houses in my neighborhood used to be about $225k (2001). Houses now sell for about $700k plus. Tell me this isn''t a bubble. Oh and by the way, "the chinese are coming!" is just a myth, most people in my hood are white. And they''re buying with 5% down 35 year mortgages (which have interest rates that only lock in for 5 years). Sound familiar, American friends?'
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'pistol pete' Jun 24, 2010 8:20 PM GMT 'Broker Andrew Hasman sees 70 to 80 percent of his high-end listings go to mainland Chinese. He oversaw an open house recently for a $1.8 million home. Of 100 visitors, 91 were from China.sounds like our neighbors up north are getting phased out.'
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'Richard Pearson' Jun 24, 2010 7:32 PM GMT 'Thank you for doing a balanced story on Vancouver real estate. Canadian articles usually only get commentary from those with a vested interest... Mortgage brokers, real estate agents and bank economists.'
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'FGFM' Jun 24, 2010 6:11 PM GMT '"One can look at charts to understand how long and intense the climb in prices has been, with inflation-adjusted prices of an average home in Vancouver doubling in the last 35 years"Isn''t that roughly 2% a year compounded?'
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