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Vancouver's Real Estate Bubble Trouble

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'MAYVEN' Jun 28, 2010 6:45 PM GMT 'This is a quiet town after 9 pm ..People go home ..shower and turn on the TV ....Not much to do ...but no mosquitos...humidity ....or rain ...!The construction of all housing including commercial ..is utter garbage ....No-one knows how to build quality ...at any price ...!'
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'Jane Doe' Jun 28, 2010 2:51 PM GMT 'Question for Canadians: Who do you think you are?'
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'Sammy' Jun 28, 2010 4:43 AM GMT 'Can we please give it a break ? I see our local bought off paper is running a counter story to this to keep the bloat going. Do we have anything else in our economy happening and why are we loading up on mainland Chinese ?We have massive asset inflation and nothing else to support our local economy. Our government is negligent in managing our economy, rates should rise. Core inflation is present but more importantly is asset inflation. So our dollar rises, we are not exporting much these days anyway !China has acted to negate it''s massive bubble, one can only buy one property. Here we are wiping out the middle class with rising prices and rents. We are in a huge bubble despite what all the brokers blather on about.'
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'DavidK' Jun 27, 2010 9:46 PM GMT 'Shacks don''t go for a million dollars. They are given away. The million is for the land under them. Vancouver is a very special place. In addition to being one of the best cities in the world it has run out of land. That''s right, in big empty Canada there is a shortage of land in Vancouver. The city is trapped in a relatively small triangle between the US border, the Pacific Ocean and the Coast Mountains.If you don''t want to pay Vancouver land prices but want to work there you can buy on the other side of the mountains and facae a long commute or live on one of the islands and face a different kind of commute. Anyway, it''s not a bubble.'
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'Jane Doe' Jun 27, 2010 6:10 PM GMT 'Real estate in Vancouver is the Canadian answer to Macau, the Asian casino city for high rollers.'
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'SWW' Jun 27, 2010 3:53 PM GMT 'In a way Canadian government is selling out Canada by accepting 40,000+ immigrant a year. Not a judgement to say it''s correct or wrong though. Most immigrant family will buy a house, a car and stuff to fill their home when they come which bring in quite a lot of income for the country, with the vast available land we have in Canada this ''bubble'' can continue for quite some time, this might be a bubble but I think it can go on for quite sometime. The losers in this game is regular middle/lower income Canadians that can''t catch up with the rises of housing market. And those who stretched themselves too thin and the economy hit a speed bump...'
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'Robert Laughing' Jun 27, 2010 2:58 PM GMT 'Vancouver IS special: lots of immigrants, lots of YOUNG people, and just as the Hongkong Chinese ''adopted'' Vancouver as their emergency escape hatch when Maggie Thatcher announced the ''Return'' of Hong Kong to China, Vancouver todays is vibrant, very pleasant and a Global City. It has also become a magnet for illicit money from Mainland Chinese who know to ''NEVER thrust the Govt.'' As the article states, ''most all the buyers today ARE Chinese.'' Perhaps not just the capitalists, but those princelings of China''s Ruling Elite, looting their corporate and govt coffers.'
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'Anon' Jun 27, 2010 10:38 AM GMT 'Clearly, it is George Bush''s fault. '
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'Rhonda' Jun 27, 2010 6:41 AM GMT 'One word, grotesque greed on behalf of certain people. Terry Hui to the Dakoda family and Bosa''s. Bob Rennie should be shot h is so annoying. To whom much is given much is expected, it is time for the latter to give back to society. What Vancouver has is ignorant nouveau riche.'
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'West Vancouver raised' Jun 27, 2010 4:39 AM GMT 'Yo, you can''t eat the scenery ! If Vancouver is to be a retirement center and haven for criminals well then good luck. Frankly there are no jobs and it lacks any real industry, I think a capital gains tax on real estate is needed to realign reality. I not only expect a crash but have sold my place as deal flow drains.Frankly Canada''s immigration policy is so wacko I am fully prepared to move. It used to be investor immigrants, now the bar is so low we get everyone looking for an easy gig.'
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