"It is not just the Chinese doing the speculative buying, I know of Whites, Indians, Filipinos, Koreans and other races doing the same thing. Flipping houses using borrowed money and living a materialistic life with fancy cars, bags etc."

We agree with this poster’s sentiments; the bubble has not been inflated by any particular ethnic group. Members of each and every Vancouver population group have been participating. Everybody’s hustling for a buck and a dime: It’s human nature that does it, not any particular cultural effect. We also agree that “it is just a question of how soon and how fast” this all ends. It’s a pity that the city is losing another sensible soul. -vreaa

LY at vancouvercondo.info 29 Apr 2010 10:59 am -

“I understand the frustration of some bears seeing housing prices go up due to massive speculative buying by Chinese. But it is not just the Chinese doing that. I know of whites, Indians, filipinos, Koreans and other races doing the same thing, flipping houses using borrowed money and living a materialistic life with fancy cars, bags etc. Anyway, their flipping days are numbered especially here in Vancouver. It is just a question of how soon and how fast.
As for me, I am moving to Toronto for good this year where I can buy an almost new detached/semi-detached house in Markham or Richmond Hill for the price of a small 1200 sq ft townhouse in Burnaby or Richmond. No reason to stay in overpriced Vancouver.”