Vancouver: Foreign Buyers, Flawed Numbers, Racism, Unaffordability & Downturn

Hardly anyone believe only 5% of real estate buyers are foreigners

Preliminary data collected by the B.C. government suggests only 5% of the recent buyers (last 20 days to be exact) are foreigners.

Guess what, hardly anyone believe that is the case, many commented the 5% as flawed, misleading, obfuscatory, laughably incomplete and useless … downright false!

Read the comments at CBC.ca for an idea …  

“This survey is completely flawed simply because “In Richmond, foreign nationals made up 14 per cent of all buyers” is not true. 90% are foreign buyers in Richmond. Just go and check it. After it, nothing to discuss here.” – Vlad Vladidze

In Richmond for example, foreign nationals made up 14 per cent of all buyers, spending $61 million out of the $371 million worth of purchases. In Burnaby foreign nationals accounted for 11 per cent of all purchases.

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Early data shows foreign nationals buying 5% of Metro Vancouver homes sold

CBC.ca – ‎Jul 7, 2016‎
Preliminary data collected by the B.C. government on foreign investment in the province’s sizzling real estate market shows that in Metro Vancouver five per cent of allreal estate purchases were made by foreign buyers, almost all of them Chinese …
Is the end near? Data shows Vancouver real estate bubble may be starting to burst 
Canada’s housing crisis: The time for study has passed 


Pete McMartin of Vancouver Sun believe the critics are just pathetic racist minions …

Is racism part of the housing issue? Of course it is 

This is echoed by,

Generational divisions underlie debate over Vancouver’s housing market

Straight.com – ‎Jul 9, 2016‎
The Globe and Mail’s Kathy Tomlinson and the South China Morning Post’s Ian Young have also written a litany of articles about Chinese home buying and regulatory shortfalls in the real–estate sector. This trio wasn’t working in the Vancouver media in …

Also HuffPost thinks the end is nigh (or it’s game over) for Vancouver real estate …

Vancouver Real Estate May Already Be Crashing: Stats

Huffington Post Canada – ‎Jul 8, 2016‎
But now, the West Coast-based fund manager finds himself standing with a growing chorus of observers offering grim portents for the future of Canada’s hottest housing market. He thinks a crash may be happening already. And there are numbers to back him …
Vancouver Home Sales Fall 8%, But Prices Keep Rising 

 

And as usual,

Low incomes add to Vancouver housing price woes 

 

Not only Vancouver is the most controversial real market in Turtle Island (North America), and quite possibly in the whole wide world. It looks like Vancouver is also the biggest battleground for politics as a result of the ongoing real estate controversy. Which entails messy stuffs things like racism, homelessness … You name it, Vancouver got it all.

Turtle Island

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