“The strength of the market has been something to behold, and there are a lot of rich people in China. If only 1/1000 came here we would be cleaned out.”

This exchange from ‘Vancouver RE and then some‘ is archived here as representative of opinions, sentiments, and anecdotes that are currently common on Vancouver RE discussion forums. It is a variation of the ‘ceaseless and consistent demand’ argument, and of the argument that “Vancouver is the Swiss Bank account of International Real Estate”. Versions of this position have been highlighted in prior posts, as voiced by James Schouw, ‘Vancouver Rocks’, Bob Rennie, and Maggie Chandler, amongst others. -vreaa

Anonymous at fishyre.blogspot.com 18 Jan 2010 12:09 pm – “The bubble theory has failed as far as Vancouver RE is concerned, we have to admit it. We have reached a permanent high plateau of prices here. RE is still red hot in Vancouver. I talk to builders and they are still going knocking at doors asking owners if they want to sell, so they can tear down and build a new house and sell it for a profit to a rich chinese. What people forget is that we are being overwhelmed by rich chinese influx of immigrants. I dont see RE going down for the foreseeable future. Drive near any school at recess time in Vancouver and see how dominant the asian pattern is, it is proof that hot money is still flowing here.”

fish10 added 19 Jan 2010 3:52 pm - “Yes, it is possible that we have reached a permanent high. Nothing can be discounted. The strength of the market has been something to behold, and there are a lot of rich people in China. If only 1/1000 came here we would be cleaned out.”

2 responses to ““The strength of the market has been something to behold, and there are a lot of rich people in China. If only 1/1000 came here we would be cleaned out.”

  1. Hahahaha. “Permanent high plateau”? It seems the poster does not know the source of that expression. It came from Irving Fischer, Oct 21, 1929.

  2. If we can tap into 1% of their market we’ll all be rich!

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