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Vancouver's Real Estate Bubble Trouble

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'bA' Jun 27, 2010 3:50 AM GMT 'You have to realize that Vancouver''s real estate has been among the most expensive in the whole Commonwealth for nearly a decade already. '
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'Yo' Jun 27, 2010 3:47 AM GMT 'The weird thing about Vancouver is the demand. Rich people from across Canada, and in the past, rich people from Hong Kong, bought up the land and live there. People don''t tend to make their millions there, but go and live there after having made it. Hence, you don''t see crazy levels of industry there, but people having really nice cars. I don''t see a bubble in Vancouver, it''s like Canada''s Manhattan in terms of real estate, it''s just the place people want to be, and people pay a premium to have the ocean on one end, and the rocky mountains on the other. Not many places can you go to the beach in 30 minutes, and go skiing in 2 hours, nearly 365 days of the year.'
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'born in Vancouver' Jun 27, 2010 3:37 AM GMT 'too much demand/too limited supply.Supply growing due to high prices, but a 50% crash...No. Maybe 20%, but rates will stay low due to global recession caused by sovereign debt probs.Good nite!'
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'midwest' Jun 27, 2010 2:21 AM GMT 'Hmmm...give it a few months and then jump into the market after it crashes and pick up a nice summer place for pennies on the dollar.Thanks Canada!'
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'Alan' Jun 27, 2010 1:00 AM GMT 'John, Please get ahold of me at ez7331@hotmail.comThis is business related....thanksAlan'
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'Dave' Jun 26, 2010 9:10 PM GMT 'Australia just passed a law stopping foreigners who are not residents in Australia from buying houses. This may help a little in Australia. Perhaps Vancouver needs to be reminded that Canadians need a place to live. So how does a young family buy a house in Vancouver? Not possible IMO. Bubble will burts as it will in Australia.'
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'John' Jun 26, 2010 8:05 PM GMT 'Note to Best Place on Earth guy :Let''s see, I was a very senior employee at CMHC ( Canada''s Housing agency for those not Canadian ), far more senior than Cameron Muir who was a local housing analyst. I constantly interacted with some of the top economists in the world. I worked in banking at a senior level and did a ton of mortgages. Have a masters in finance and international economics. As it stands we are a ponzi scheme locally. I also grewup in Vancouver.Cameron Muir is committing resume fraud in my opinion, a BA does not qualify one to be called an Economist by any stretch. As for all the real estate agents like yourself with a half baked grasp of investments and what is going on globally, frankly you are just a salesman who would sell to anyone. PS) Also worked investment banking and have seen some pretty nasty real estate deals go south. Vancouver is a bubble waiting to really pop, view and beach notwithstanding. Plus it rains most of the time, summer is one month !Preach to your fellow delusional realtors who stand to have income sucked away, reality awaits. '
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'jim' Jun 26, 2010 7:45 PM GMT 'bob, you''re an idiot. '
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'Sarah' Jun 26, 2010 6:00 PM GMT 'I completely agree with John who says the market is toast. Half the city are either realtors, interior designers, developers, contractors etc. WE HAVE NO OTHER REAL INDUSTRY. Essentially we have replaced the days of hyping fraudulent stock with real estate, it is a city with zero morals, frankly it is Nigeria.China fully recognizes they are in the world''s biggest bubble and have acted to unwind it. Our real estate here is Dubai now and look what happened there. Every realtor will run on about our scenery etc, Prince Rupert also has great scenery ! We have no jobs of merit here, salaries are 1990 still and falling. Let''s call a spade a spade here, Vancouver is just hype and overspeculation. Those from here have seen this movie before, 1982, 1992, 2000 and now post Olympics drunken spending 2010. Brokers are always bs ing about this group buying up all the place, anyone daft enough right now deserves what they will get..that being hammered cause rents are low and plentiful.'
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'jmol' Jun 26, 2010 5:19 PM GMT 'Not all Chinese are rich. Besides rich Chinese investors are not stupid. '
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