A New Global Property Bubble?

[Fiat Currency]

Re: A New Global Property Bubble?

we have wild blackberries in ours and we grow the blueberries!

Good for you, and well done! I have noted several of your good advice posts on gardening over the years. I've been to North Carolina many times - lovely country. Alas, were I live the elevation is over 3,400 feet and with a lattitude North of 51 degrees, it makes for a very short, frost-dangered growing season. Yet ... Mother Nature provides for those of us who think like squirrels ;-)

[Fox]

Re: A New Global Property Bubble?

Hehe, ya my pictures were a bit cheating. Basically comparing the absolute best of Vancouver to the worst of Shanghai. But still if given a choice I'd take vanvouver. and hey, I actually like the rain. However I'll admit I've never had to deal with it 200 days a year. :P

And no, contrary to popular rumour "All Cash Chinese Buyers" are NOT buying up every damn house, duplex and apartment in the Lower Mainland. THIS insanity of a property bubble is being driven by the locals and lots, and lots of cheap, cheap credit from the Canadian banks.

Ya know, all I have are a lot of anecdotes. Do you know of any particular reports on what the numbers really are? I find getting reliable information on Canada to be difficult. Everything I find is always focused on US markets.

That being said, how low have the standards gone? For my house (bought last year in eastern Ontario just before the new rules). I still had to come up with 5% down, prove my income and go through a credit check. And their evaluation for what I could afford was high, but not crazy. It certainly wasn't anything close to sub-prime. I wouldn't mind having extra cash in my pocket, but my debt is manageable (total debt to income now stands at 3.3).

To say Vancouver is a bubble would be that they are giving out mortgages lower quality than mine. Is this what is happening in Vancouver? Another sign of a bubble is the purchase of second or multiple homes. Is this also happening?

[BK]

Re: A New Global Property Bubble?

I was told all the CASH Chinese buyers are buying up Boston, New York, and San Fran.......but, you really see these all cash buyers in person or in an interview or even named in an article. They are a very secretive lot - I think they hangout with Santa Claus and the Easter Bunny....