Anonimi at VREAA 8 Feb 2011 10:42pm – “My aunt bought a condo in UBC south campus three years ago (pre-sell) – she is a lawyer and is quite set financially and probably did this for a bit of fun: well, she flipped and got ~150k clear (tax not inc;): for all you race profilers out there – the condo is almost 100% chinese, the creame de la creame of mainland China.”
Story of a local speculator flipping a presale for a profit of (150K – taxes/costs), and, it seems, for the pleasure of the diversion. Reminds us of the statement from Tracie McTavish, president of Rennie Marketing Systems, “Real estate is like a sport here.” … Extreme condo flipping. -vreaa
“creame (sic) de la creame (sic) of Mainland China”… More like the top tier of the local communist apparatchik diverting and laundering their bribes.
If Chinese cash will push our prices ever higher than why is the Federal Government trying to cool down Vancouver real estate? They know the truth, its just everyday idiots borrowing too much money.
Take a step back: China’s the excuse for, not the cause of, high prices. If locals earning local incomes stop buying prices will fall significantly, guaranteed. Well over 2/3rds of purchases in Vancouver CMA are by locals.
well, if they’re Chinese and they are on the westside of Vancouver I would guess that theres a good chance the person has ties to the Communist Party and the riches/corruption that come with it.. its not a big deal to make that call. we have to quit being so fucking PC
Are things mostly fueled by greedy locals, yes, but that does not make my statement false. And it doesnt help that the high end of the market is being driven up to beyond insane highs that trickle down to all other sectors.
Well said, CH. To think that some will stalk others using PC as an excuse, or is it hypocrisy in disguise. The Chinese share the same opinion of those corrupt princelings. They even joked if those protesting over the hospice were concubines sent here and the wives remained in China. Of course they knew the answer by looking at the ugly faces.
Let’s face it… Vancouver is the communist party’s apparatchiks’ insurance policy… They know when the SHTF in China (and it will), there will be few lifeboats but many wanting to jump off.