“I heard a proud father boasting to his son over dinner tonight that he had bought FIVE Vancouver condos recently.”

“I heard a proud father boasting to his son over dinner tonight that he had bought FIVE condos recently – including one in the MC2 for grandma (when she arrives) – not sure if it`s for her to OWN or actually live in.”
- Liu Yunshan VREAA 24 Nov 2012 12:47am

Almost requires no comment.
Unless these condos are, on completion, immediately inhabited by family or tenants, this represents a misallocation of resources in the city.
Note he is too obvious a speculator to be classified in the “Spot The Speculator” collection, which is reserved for citizens who are speculating on RE prices largely without even knowing themselves, poor souls.
- vreaa

11 responses to ““I heard a proud father boasting to his son over dinner tonight that he had bought FIVE Vancouver condos recently.”

  1. Naked Official #9000

    I didn’t realize he was talking about condos until I heard the mc2 name dropped, so I had to backtrack in my mind – may have been 4. Either way, totally nutty.

    He also went on ad nauseum about
    “unproductive people” and “fornicators”..

    So, yeah. A little wacky.

  2. “I heard a proud father boasting to his son…..”

    I’d be a proud father too if I could afford 5 condos.

    • Who knows? Perhaps he borrowed against existing RE holdings to put down the initial part of 5 down payments.
      At least some of these buyers are leveraged to the eye-balls.

  3. Might be just a bragging or RE PR in action…

  4. Maybe he has the right to brag about paying full in cash from his corruption monies…citizens of china, of the addicted, of the tokers?

  5. Wonder if he’ll, be boasting about losing 40% of his money within a year or two. Doubt it.

  6. The finest “Canadians” money can buy.

  7. Real Estate Tsunami

    Send all the overseas speculators back to Germany.
    Enough immigrants already.

  8. Don’t know what to say. Diversify is what they teach you. The herd mentality of thinking an asset will never go down is what is going to kill this country.

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