ams at VREAA 8 Feb 2011 9:24am – “I was at a birthday part on the weekend, one of the people is putting up his condo for sale because he wants to move to a different neighborhood. We got talking about real estate and he said that his agent told him that the Chinese government is telling their people they should invest in Vancouver and that investing in Vancouver is an authorized investment. I pushed back on that idea and said that China instructing their citizens was pretty far fetched.”
We’d agree, the idea that the Chinese government is encouraging citizens to buy up Vancouver is a bit of a leap. This is another interesting anecdote as a record of what locals are telling themselves as they peddle RE to one another, and as they overextend themselves further into RE.
Would the above “move to a different neighbourhood” involve an increased exposure to RE? It usually does, particularly when the protagonist is speaking that kind of bull. -vreaa