Highest Housing Starts since 93. Faantastic

[VancouverGoinUp]

Poor old Shiller - he should of bought in Vancouver before discussing a part of the world he appears to know little of.

Still dirt dirt cheap at 800 grand

http://www.canada.com/vancouversun/n...01f867&k=76212

[Jim Nickerson]

Re: Highest Housing Starts since 93. Faantastic

Poor old Shiller - he should of bought in Vancouver before discussing a part of the world he appears to know little of.

Still dirt dirt cheap at 800 grand

http://www.canada.com/vancouversun/n...01f867&k=76212

VGU, your estimate of what's worth 800K and my estimate are vastly different. A place to live that costs 800K is not cheap.

[VancouverGoinUp]

Re: Highest Housing Starts since 93. Faantastic

By North American standards i would agree that 800k is not cheap. Vancouver is real estate is fueled by the mega rich. Asia, Europe and America. 800k is pocket change to the people moving here. In fact it is not uncommon for buyers to purchase a 2 million dollar house with a 1.9 million dollar mortgage. Why? Because the market can sustain anything that is thrown it's way. US Recession - doesn't matter. Global Meltdown - doesn't matter - Interest Rates going up - doesn't matter, Shiller and the experts views totally out the door, CNN, Bloomberg etc views on the market doesn't matter, Gold Silver won't affect it

Vancouver is Goin Up and no one can stop it

Come join us in financial paradise

[Jim Nickerson]

Re: Highest Housing Starts since 93. Faantastic

By North American standards i would agree that 800k is not cheap. Vancouver is real estate is fueled by the mega rich. Asia, Europe and America. 800k is pocket change to the people moving here. In fact it is not uncommon for buyers to purchase a 2 million dollar house with a 1.9 million dollar mortgage. Why? Because the market can sustain anything that is thrown it's way. US Recession - doesn't matter. Global Meltdown - doesn't matter - Interest Rates going up - doesn't matter, Shiller and the experts views totally out the door, CNN, Bloomberg etc views on the market doesn't matter, Gold Silver won't affect it

Vancouver is Goin Up and no one can stop it

Come join us in financial paradise

Fools rush in where wise men fear to tread. Someday all those things that don't matter will matter, and then some genius will pop up and say they always mattered.

[GRG55]

Re: Highest Housing Starts since 93. Faantastic

By North American standards i would agree that 800k is not cheap. Vancouver is real estate is fueled by the mega rich. Asia, Europe and America. 800k is pocket change to the people moving here. In fact it is not uncommon for buyers to purchase a 2 million dollar house with a 1.9 million dollar mortgage. Why? Because the market can sustain anything that is thrown it's way. US Recession - doesn't matter. Global Meltdown - doesn't matter - Interest Rates going up - doesn't matter, Shiller and the experts views totally out the door, CNN, Bloomberg etc views on the market doesn't matter, Gold Silver won't affect it

Vancouver is Goin Up and no one can stop it

Come join us in financial paradise

Buyers that "purchase a 2 million dollar house with a 1.9 million dollar mortgage" are not mega rich, just highly levered like their California, Florida, London and Marbella counterparts.

[VancouverGoinUp]

Re: Highest Housing Starts since 93. Faantastic

Actually not leveraged at all. Buyers flocking to Vancouver are multi millionaires. It makes no sense to park $2 million dollars in a $2 million dollar property when you can put down $100,000, pay an affordable mortgage and watch the house increase in price 50% over a few years. This leaves you with more money to invest in Gold or conversely you can conitunue to buy other properties. For example a person buying a house in Kelowna in central BC today for $400,000 will be aptly rewarded when selling 3 years from now for $800000. Impossible you say? Not at all. The license plates in BC say it all "The Best Place on Earth" and the best place on earth ain't cheap BUT affordable for millions of rich immigrants.
http://www.bcpl8s.ca/Olympics.htm

[metalman]

Re: Highest Housing Starts since 93. Faantastic

Actually not leveraged at all. Buyers flocking to Vancouver are multi millionaires. It makes no sense to park $2 million dollars in a $2 million dollar property when you can put down $100,000, pay an affordable mortgage and watch the house increase in price 50% over a few years. This leaves you with more money to invest in Gold or conversely you can conitunue to buy other properties. For example a person buying a house in Kelowna in central BC today for $400,000 will be aptly rewarded when selling 3 years from now for $800000. Impossible you say? Not at all. The license plates in BC say it all "The Best Place on Earth" and the best place on earth ain't cheap BUT affordable for millions of rich immigrants.
http://www.bcpl8s.ca/Olympics.htm

maybe it's smart chinese businessmen buying a place to go to escape the ccp once the shit hits the fan in china and the government cracks down... collects all the rich guys' money. i bet it'll make fdr in 1933 look nice.