Vancouver gingerbread home being sold for $4.5 million on Craigslist


“A Craigslist user has recently listed a holiday gingerbread house for sale with a steep asking price of $4.5 million.
The charming one bedroom cottage is located in the city’s West End and according to the ad, it’s one square foot in size.
The cottage is quite colourful made from gingerbread pieces and icing with a candy-covered exterior.
The baking sheet on which its stands is unfortunately not included in the sale but the seller claims that it’s an “investor’s dream” and is only asking for “serious buyers.”
The gingerbread house is still up for grabs but only for a few more weeks, as it will be demolished on Jan.1.”

– from Karina Nowysz, The Daily Buzz/Yahoo, 4 Dec 2015

craigslist gingerbread

76 responses to “Vancouver gingerbread home being sold for $4.5 million on Craigslist

  1. Wonderful find.

    Let the bidding wars begin!

  2. #”RevengeIsSweeterThanCandy”,Or… #NeverInviteHanselUndGretel… #ToYourGingerbreadOpenHouse…

  3. If you can’t make it, bake it!

  4. Fixer-uppers are still an affordable option for first-time-buyers, like this great house in East Van:

  5. rod_jonsson_pmd

    anyone (but ted especially) ever think yvr RE spec more intense due to dearth of economic options? … meanwhile, creative minds demonstrate how it is ….

  6. Architecture is pretty cookie cutter on this one

  7. I bid 1 dollar. Subject to an inspection done by a certified home inspector.

    • Sorry, you’ve been outbid by someone who offered $2. All cash, no conditions. The house will now sit empty until the buyer tries to flip it for $3. But by then the gingerbread market will be in free fall, and he’ll slowly realize that he overpaid by a factor of two. It will languish on and off the market for a few years, and eventually you’ll be able to scoop it up for 75 cents.

    • Or, the total possible supply of ginger bread houses dwindle down to 100K. And you all of a sudden has to compete with the richest of a country of 1.3 billion people for the remaining supply. Then you would be crying if you didn’t buy it at 2 dollars.

      • I love how RE pumpers, like Brian here, never fail to throw around the “1.3 billion people” quote. As if that were an investment thesis. As if the majority of them weren’t dirt poor.

      • Love how Real Estate Bears like El Ninja, who has been utterly wrong for the last ten years, never fail to bring up some sort of lack of investment thesis. All I have to say is this, tick tock, 2 years and 11 monthes left now. Better hope your crash happens. Btw, what is your percentage of this crash? 50 was it, or am I being too conservative, 70 is a number you have thrown around right?

      • Yeah the parallel with “more millionaires than people who live in Vancouver” is interesting. As if Beijing and Shanghai re prices are cheap.

  8. Likely lasts longer than many osb fitted stucco structures put up these days

  9. #LetThemEatGingerBread…

    [TimesColonist] – Low-cost rental housing disappears in Vancouver area

    METRO VANCOUVER — As Kaye Bedford watched the demolition take place around her Metrotown neighbourhood, she knew it wouldn’t be long before her three-storey rental apartment was next in line for the wrecking ball.

    Sure enough, in June she heard that the property was up for rezoning.

    “It made me realize I had to do something,” Bedford said. “It’s not just me, or five or 10 people. It’s an entire community being moved out of the area. I thought ‘where the hell are these people going to go?’ ”

    Bedford is among a growing number of people across Metro Vancouver battling to save the region’s stock of affordable three- and four-storey rental apartments from being bulldozed to make way for shiny glass condo towers.

  10. #IllustriousEd!… #RoboRedaktorAlert…

  11. #It’sAboutTheGingerbread… #Right?…

    “You can determine if it’s suspicious or not, the guy was a pig farmer 10 years ago and now he’s a multimillionaire.” – Kim Marsh/RCMP

    [G&M] – ‘Suspicious transactions’ reported by B.C. banks tied mostly to China

    …”Vancouver-area banks reported suspicious transactions involving Mainland Chinese clients 17 times more often than those tied to citizens of any other outside country in recent years.”…

    • Weren’t a lot of the dotcom billionaires college dropouts less than 10 years before they hit the jackpot?

      This kind of rags to riches stories isn’t all that uncommon in China and there are quite a few terms, some derogatory, for this kind of people. And frankly, we Chinese loves pork and you can still make a killing in basic agriculture/food industry. I think the richest man in China before Jack Ma was someone whose biz sells juices/drinks.

      • You really won’t stop at anything to keep up the lie, will you? Give us a break

      • Seriously El Ninja, you have no clue about China, all your perceptions are off of a western magazine that does generalizations about every country in the world. How do you even know what he says isn’t true? Tell me, what credibility do you have? What, are you born in China? Are you Chinese? Do you know a lot of people from there? The fact that you are accusing him of lying is laughable to anybody who is actually from there. I have family there and I can tell you there are a lot of cases that are true of uneducated people who became billionaires over night. How is that not possible in a country that big? Now I wouldn’t defend these people because there is no need to talk about this point. But just because it is not fathomable to somebody like you doesn’t make it untrue.

      • The business climate in China makes it difficult to track the money. Claims of fortune and its real origin are notoriously hard to verify.

      • Well, if there were a lot of uneducated peasants making a killing, I doubt terms such as tuhao, baofahu, etc would enter mainstream lexicon in China.

        When you see people depositing 2M RMB in cash in a suitcase in a 5th/6th tier city – the equivalent of like Smithers, Peachland here, it really opens your eyes to just how much $$$ is floating around and just how freaking rich some people are.

        And btw, there are studies done that found most successful people would be successful even if they didn’t have access to formal university educations. It’s not university education that makes you successful, rather other attributes as such desire to succeed, willingness to take risk, ability to learn, and most importantly – inspire others to work for you while not having to share the fruits of their labour.

        There are poor farmers and there are a lot of smart farmers/villages that recognizes there are tons of $$ to be made in food and safe food biz. Frankly, when you are selling fruits at the same price as here with Chinese low input cost, it’s not hard to make millions….

      • I meant to say if there WERE NOT a lot of dirt poor uneducated rich peasants….

      • @yvrhousing, yep, absolutely true. I think that is a pretty fair statement. Even the Chinese themselves are very divided in this matter. The RCMP officer is pretty ignorant to say such a thing because that does happen quite regularly in China. My father’s elementary school mate never went past highschool but is now worth about 50 million dollars because his little construction company took off in this little town. So what are we to say, it must be suspicious because a bricklayer can’t make 50 million?

      • I don’t doubt that there are a lot of newly-minted millionaires in China—many from humble beginnings.

        What I question is that all of the money is clean, and that it will continue to be generated on a sustainable basis. I also question how much of the money will find its way to Vancouver. It’s a big world. Finally, I question the implication that the people who possess these fortunes are so financially illiterate that they will pay any price for a Vancouver house, no matter how elevated or detached from value it becomes.

        Rather than acknowledge and address these doubts, which are shared by many, you sidestep them with flimsy counterpoints. This time it’s “dotcom billionaires”. Previously it was “what about Monaco?”. And before that it was “Chinese immigration may be falling, but don’t believe the data because they’re actually sneaking in through Quebec!”

        How can anyone take you seriously.

      • just cuz you are rich doesn’t mean you are financial literate. Frankly, the quicker one makes their fortune, the more financial irresponsible they tend to be. Just look at sports atheletes, movies & music stars. Most of them would be bankrupt if they didn’t have honest agents who hired good financial managers for them. The term easy come easy go is very adept here. I’m surprised that someone with your “intellect” & “research abilities” don’t know this already.

        Biz success financial literacy and frankly most biz tend to focus on what they are good at, growing and making more $$ from the biz they know. Not switch halfway through life to be a portfolio manager.

        Looking at how rapid the RE market goes up in China, it’s a lot of $$ flowing in RE. Or anything to do with food or children education. My wife’s old highschool teacher attended their highschool gathering when she was there recently and was lamenting that he gave up at least 500K RMB/year in tutor fees by becoming a principal.

      • Let’s assume you’re right, and rich Chinese are not financially literate. If they go out and lose their money, how exactly will they constitute a viable long-term source of capital for Vancouver RE?

        You’ve destroyed your own argument.

      • First of all, I do get why you have these doubts, you are not immersed in the chinese culture and probably has never met any of these people. You first assume that their choice is the rest of the world. But as I have claimed over and over, one of the requirements is the ability to speak Mandarin. Tell me, how many cities outside of Asia could you get away with no English? Your concerns are valid until you actually ask them why they are here. One thread becomes very apparent, the language barrier in Vancouver is much less than just about every city in the western world.

        As for your financial literacy. How do you place a price on stability? They need a place to live, what do you suggest? They rent? Try telling that to any immigrant with money and see how quickly you get laughed at. First of all they don’t speak English, how do they rent? I think eventually renting will be an accepted part of Chinese culture but it will take at least one generation. Right now it is not an alternative. If it’s not an alternative how do you value your properties then?

        Let me be clear. They are not here to speculate on our houses. They need a place to live. I don’t see how your financial literacy has anything to do with it. It’s like I landed in Thailand resort town that speaks english. Prices aren’t cheap but I need a place that speaks English, what would I do? Of course I would buy. This isn’t an investment for them.

        As for your immigration numbers, that is wealth based immigration, there is still a lot of skill based immigrants that have a lot of wealth. As long as there is sizable immigration from China, you will always have a large demand base.

      • Btw, one more thing, if it is not foreign capital, how could we possibly have today’s valuations of price to income given that banks will only lend 5 times income. How does that even work? Even if my interest rate is negative, I can only borrow 5 times my income. There is absolutely no way Vancouver’s incomes or interest rates could have caused this run up given this fact.

      • @El Ninja, you still haven’t answered my question. What are their alternatives. You assume the rest of the world when in fact there are’t many places that speak Mandarin. San Fran is actually one of the alternatives but as you have said before, it is really expensive there too, probably more than Vancouver. So where would you go if you were them.

      • Sorry to take the wind out of your argument, Brian, but the Chinese emigrate everywhere. Yeah, a few of ’em go to Vancouver. Others to San Fran. Some go to Montreal, New York, London, and Sydney. Oh, but they don’t just go to cities. They go to suburban Texas… and beyond. I once dined at a Chinese restaurant, run by a Chinese immigrant, in Belize City of all places. Belize City! Fact is, there are Chinese communities in Latin America, Europe, throughout North America, and pretty much anywhere a dart lands on a map.

        Being able to speak Mandarin is nice, but not a requirement. Or are you saying that not only are they financially illiterate, but unable to acquire a second language? That they can’t integrate? What are you implying, that they’re racist?

        This is the substance of your investment thesis?

        But what do I know. I wasn’t born in China.

      • Ok, you are a mid aged pig farmer with no formal education other than a lot of money. How do you propose he learn English? This guy could barely speak proper mandarin. The one thing that you have is money, why would you not go to a place that already speaks your language. That’s like saying, I need to move out of Canada, of course I would choose a place that speaks English, especially if I have the money to do it. You got one thing right, you certainly don’t know anything about Chinese.

      • Also, if it wasn’t foreign money, how do you suppose we ended up with this type of valuations in the first place? I make enough to pay six figure taxes and I barely could qualify for a west side detached according to the banks. How do you suppose we were able to achieve anywhere close to the current valuations without foreign capital?

      • This is awesome. Your argument has now dwindled to: “Some illiterate Chinese peasants got rich. Some of them now want to leave China. They don’t want to go anywhere in the world where they have to learn another language (they’re illiterate, remember?). Buy Vancouver real estate!”

        Thank you for enlightening those of us who “don’t know anything about the Chinese”. Your insights about the country are about as impressive as your investment acumen.

      • Actually, to clarify my point for you who is clearly illiterate here is the thesis, “China’s richest prefer a city that speaks their language, dominated by asian influence, and has a high quality of living, of which there are only a few in the world, we happen to be one of the few.” Get it now?

        Btw, I notice that you carefully dodged my question about the valuation issue. If everything was interest rate and local income driven, how can we even get to the current values given that banks will only lend 5 times income? Truly that money has to come from somewhere right? So.. .either we have a lot of high income earners or the capital is not local at all.

      • Oh, I will answer your question alright. Where is the money coming from? Multiple places. First off, lenders. The banks–as well as non-bank lenders, some of which are “sub-primish”–have not exactly been conservative. Why should they be when they are backstopped by the taxpayer? Incomes are fudged. Rules are fudged. And of course, you have the ubiquitous “mortgage helper” factor, whereby “incomes” are effectively augmented. Then there’s the Bank of Mom of Dad. We have retirees, or soon-to-be-retirees taking out HELOCs, or tapping their retirement savings, to lend / give to their kids. Of course, they’re comfortable doing this, because RE “only ever goes up”. And then you have buyers raiding their RRSPs, TFSAs, and even credit cards to get cash. And, yes, there is some foreign money added to the equation. The difference between you and me, though, is that you see foreign money as the only driver, rather than one of several (and you believe it’s sustainable). You don’t see the ridiculous indebtedness and overstretching of locals. There is no historical precedent for it.

  12. BoC is willing and able to go negative interest rates. Imagine what a 1% 5yr mortgage would do to the housing market, especially for cash rich investors.

    • rod_jonsson_pmd

      not really … i have cash and the last thing i’d do is leverage into a crowded trade … commodity rout and policies like that could take currency to all-time low

    • But if you all knew was RE and that it has never crashed in your living memory? Then wouldn’t a super low 1% interest rate just be begging you to buy more RE?

      • rod_jonsson_pmd

        ok sign me up then … otoh, say you’re all in already, recognize none if this makes any fundamental sense, is just a product of unprecedented cb intervention and is guaranteed to blow, just can’t say exactly when the mob turns, what’s the plan for getting out?

      • Most people either don’t believe that will happen and hence have no exit plan, or just say “I will sell it if that happens” believing they can get out before everyone else. Regardless, until that actually happens, most people just end up buying and buying and buying.

      • rod_jonsson_pmd

        no disagreement … we’ve described a textbook mania … and you’d think people should recognize a good one by now … new age fundamentals totally delusional don’t subscribe to any of it … you can plan based on whether you think the cbs can hold things together … i still say no plus people always go to excess, in both directions … i save cash to give them when it’s worth more

  13. Vancouver doesnt get skill based immigration, career opportunity is too dismal in Vancouver,
    Vancouver only gets wealth based immigration and poor based like family reunification, refugees, and fast food employees from the Philippines

    Canada has embarrassingly low standards for immigration, and the best and brightest NEVER come to BC

    • There are skilled based immigration but they just aren’t here to work. For example, just recently met a couple from my hometown. They are skilled immigrants, but they might as well be wealth based because they have the same assets. They use the skilled route to come here not to work but because it is an easier way to come than the wealth based one.

  14. @El Ninja – I don’t think local based income are buying the $2.5M+ houses or condo/penthouses…even with a $500K gift and $2K/month laneway house rental income, I don’t think the average professional family making $250K can swing a $1.5M to $2M mortgage.

    If you are talking about sub $1M+ housing market, I agree with you that it is mostly locals going nuts, but there are also quite a bit of investor activity as well Heck, one of my former coworkers, who is Canadian citizen and came back for a 2 week visit for first time in 10 years, spend this weekend looking at downtown condo for potential investment potential cuz the yield is much higher than HK/Singapore. And she said every condo she looks at was packed with like 20+ peoples, mostly local looking.

    • Serfdom? Like being a slave to the bank? Like being trapped in an illiquid asset, restricted in your ability to move, see the world? Beholden to increases in property taxes, unexpected damage and repairs? A**hole neighbours? Serfdom is in the eye of the beholder…

      You know one of the reasons there are so many renters in the U.S.? Because the country’s RE market lost over a third of its value and–nearly ten years later–has barely recovered in most places. Of course, that could never happen in Canada, much less Vancouver. You know, because the Chinese pig farmers.

      • Uhm…what do you mean you can’t move and see the world? Seriously, if you are planning to move out of the country, and have no ethics/morals, why would you even care about your debt owe to Canadian banks? Hell, why wouldn’t you borrow to the max, and give the finger to the banks when you leave?

      • space889’s intelligent reasoning on display for all…

      • I have a house, I can travel anywhere in the world, my work sends me to lots of places, and when I vacation I can go anywhere I want. I don’t have any issues paying off the so called increase in property taxes. Unexpected damage and repairs? Not a problem, they aren’t expensive to fix if you know how to choose contractors. I am not beholden to the so called banks…. So..I guess I am a serf, just a very luxurious one at that. I should salute my bank masters cause they sure hold me hostage. But guess what else they can’t do, they can’t kick me out of my house with two monthes notice. One of my friends have been kicked out of his place four times in the last five years because the landlord wanted it back. Given how much flak I took from my wife last time we moved I am going to say that stability and not under the threat of being kicked out is quite nice.

      • Brian: The point of my last post, which seems to have been lost on you, is not that homeownership is actually serfdom. It is that there are ‘serf-like’ aspects to renting AND owning. It depends on your perspective.

        Look, everyone is a renter. Some prefer to rent their dwelling. Others, like you, prefer to rent money.

  15. BC Assessment sends out property assessment warning notices to 37K homeowners in GVRD:

  16. VeniRedemptorGentium

  17. @El Ninja, let’s dissect your answer to my question. Your so called sub-prime lenders, please tell me who they are cause the big five banks are only lending five times income. When I was getting my mortgage like any regular joe, I was told, 5 times income. So I am not sure who these other lenders that don’t follow this rule are. But I can’t imagine that this is a large part of the market because conventionally, most of the buying are financed by mortgages by the big five banks.

    Next, so your mortgage helper is at most a 1200 dollar a month suite or maybe if you are lucky a 1500 dollar a month laneway home. That’s like adding maybe 150K to your mortgage if you are lucky. Next, bank of mom and dad, where do you think they got their money from? The only banks of mom and dad who are able to help with 500K gifts are, guess who, those who sold their west side homes to the chinese. Why do you think they are so generous? Because some foreigner gave them 3 million cash to play. I have friends who got these gifts after the chinese have bought their parents houses for millions. I don’t know how many bank of mom and dad has 500K gifts that they organically earned to toss around. Now next, your RRSPs, TFSA’s, etc, wouldn’t amount to more than maybe 100K if you are lucky. RRSP withdraws for house purchase is capped at 20K. So no matter how you add up, without foreign money, you can’t get to a west side vancouver detached home purchase unless you are truly an elite income earner in the tune of say 300K to 400K. So unless we have a ton of elite earners in Vancouver, there is no way you get to our valuations without a large injection of foreign capital.

    Now to your ridiculous claim of how I only look at one factor. Notice in my arguments I carefully craft them around one single asset class, single family detached home in four areas, Vancouver, Burnaby, Richmond and West Van. In this asset class, the buying is driven largely by foreign money, whether the buyer is domestic or not I do not care. In other asset classes, you are probably right the buyers are supported by overleverage or other factors. But I frankly don’t care about those other classes because I have no interest in owning them. There is a reason why when you look at this particular asset class, their valuations have detached from the rest of the market. This has been what I have maintained all along, something that to this day you do not understand.

    • I’m not going to do your research for you. Google it.

      You look at an asset that has risen sharply in price, and you get all excited and want to buy it. That’s rearview mirror investing, and it’s the exact opposite of how money is made.

      • I don’t need to google it, I know it exists but is not a large part of the market. Do you know why the big five asks for 20 down and 5 times income? That’s because there are basic requirements to what the CMHC can insure. CMHC doesn’t insure every mortgage, it must meet a certain criteria. And that’s why the big banks are so anal about their requirements.

        I look at an asset that is highly desirable to a lot of rich people and will continue to be desirable to an even larger pool, I get excited about it. That’s like saying, back in the day, the ipod is expensive compared to a mp3 player, so we shouldn’t buy apple stocks? What is the value of an ipod then? The value of any asset is the value perceived to the person buying it. You keep on thinking that renting is somehow used to value an asset when in reality if renting is not an alternative to the main buyers of that asset then you cannot use that to value the asset.

        Btw, you still haven’t shown anything that suggest the properties in my asset class can be bought with local incomes. It just isn’t doable if you look at the numbers. The best you can say is, bank of mom and dad who in reality only got their cash because of foreign capital purchasing their homes. So.. really, let’s be frank, in this asset class, regardless of who has the money, it is not generated from Canadian incomes.

        You are probably right that most of Vancouver Real Estate is from leveraging because attached housing makes up most of it. But to me it doesn’t matter, because property ladder has been broken for a while now. Which is another reason why you cannot simply say rate leverage caused the price increase in this asset class because obviously it has far outperformed everything else in the market.

  18. Here is some more info for everyone. I just found out (not sure how I missed this) that CMHC does NOT insure property over one million. Which means….. most of the single family detached homes in the four areas I talked about are actually not insured by the CMHC. So.. pretty much every purchase in my asset class is guranteed by the banks themselves. That actually explains why they are such hardasses these days on anything over one million. Interesting eh?

    • To add to Brian’s comment, CMHC will not insure any property with a “sale price” over $1M. So it’s not million-dollar mortgages, it’s million-dollar properties.

    • Doesn’t matter. “Your” asset class does not exist in a vacuum. The whole market, from low end to high, is interconnected and subject to the same broad forces.

    • Really? You mean how the detached properties have just broken apart from the attached prices? So in your world, the so called property ladder exists? Ask anyone in Vancouver how that ladder is doing and see what the say.

      That’s why I analyze things by dissecting the market into two because anyone who has known anything about Vancouver Real Estate understands that it is two completely different types of buyers. It’s not even the same type of mortgages funding the two types of purchases. But of course since you are not here, you wouldn’t know this.

      • I didn’t say there weren’t differences, I said the whole market is interconnected.

        There are some particular factors at play in certain pockets, sure. But the broader influences of cheap debt and rampant speculation apply everywhere.

        Do you think west side prices would be where they are if everything else were in the gutter? And vice versa? Please.

      • Sure, of course there are interconnections. But my findings are that the interconnections are very weak. For instance, Melbourne housing prices started going down after the government banned foreign ownership of used properties. So in other words, no interest rate changes, no domestic economy changes, simply by regulating foreign ownership rules they were able to deal with their housing issues. I think it’s safe to say foreign investment has had a huge effect on the market there.

    • One more thing, since we now know this. That means you techincally could short the Vancouver housing market by shorting the big banks. Given that you expect a seventy percent crash and the banks only require a twenty percent down payment, they should be in some difficulty if this crash does happen in the time horizon that you are talking about (1 – 3 years technically 1-2 years 11 monthes since that was one month ago). Come on El Ninja, put your money where your mouth is.

      • Uhm…you are forgetting that he has a 20 year investment horizon, so even if he’s wrong now, he can still be right and make a killing 15 years from now. Though not sure if the brokerage margin clerk will buy his argument and not call in his margin loans if market went against him.

      • There are significant and escalating bearish bets against Canadian banks on the part of U.S. hedge funds, and other smart folks. Having said that, a single city’s unraveling will not spell disaster for Canada’s national banks. Other markets in Canada are less overvalued. And the banks have multiple sources of income.

        But, yes, if there was a way to directly short Vancouver RE, particularly westside detached, I would short the bejeezus out of it.

      • You do realize that you would be margin called by now if you shorted west side detached when this blog started right?

    • By the way, Hong Kong is one of the most expensive (overvalued) housing markets in the world. How does that square with your “analysis” that rich Chinese only buy detached?

      • When did I say that rich Chinese only buy detached. If you read my analysis carefully you would note that they only buy assets that are rare and have good schools around them. Hence detached Houses in the four areas I mentioned. In Hong Kong, you basically can’t buy detached, neither can you in Beijing. Hell, you have no land rights in China. Hence they find it hilarious how cheap our detached is given its proximity to amenities.

      • Nice backtracking. Here’s what you said in this very thread:

        “I carefully craft [my arguments] around one single asset class, single family detached home in four areas, Vancouver, Burnaby, Richmond and West Van.”

        You do realize there are attached dwellings in all of these areas, don’t you? Same proximity to “amenities”.

        You are full of hot air.

      • Except only idiots like you don’t realize that one asset class is finite and the other is infinite. Like seriously, do I have to explain this to you? The amount of land on the westside is finite. Detached housing of a certain size cannot increase in supply while attached can increase as high as we want to build it. Tell me you are not so stupid you don’t even realize this.

        And also, please tell me that you do not still believe that they both appreciate at the same rate cause well, obviously, that hasn’t happened.

      • The apartment stock in westside Vancouver is infinite?

      • Absolutely. If want to build 50 story towers on cambie, I could inject tens of thousands into the westside inventory. Every arterial street could support towers. We are not even scratching the surface of the kind of density that can be injected into the west side. A single building injects 300 units at about 30 floors. Only people in the Canada think that west side’s density is maxed, that is laughable.

        Are you seriously listening to what you are saying? West side detached is about 20,000. Attached can grow as much as I want it to by relaxing the zoning.

      • You can count houses. Congratulations. Unfortunately, you don’t have a leg to stand on.

        You won’t see apartment towers going up on the westside with the wave of a magic wand. They absolutely are limited.

        But in any case, you’ve disproved your own point. How about Hong Kong, which is largely apartments? If they are “unlimited”, why so expensive?

      • Are you serious? Where can I build more apartments in Hong Kong? What are you talking about. That’s like saying, Beijing has space 60 km from the city centre. Vancouver is undeveloped, Hong Kong is not. Try going within 30 minutes of centre of Hong Kong and trying to find a place without towers. Hong Kong is very dense anywhere close to city centre. Most of Hong Kong looks like Vancouver down town which is actually one of the most dense places in North America. And Chinese are starting to buy downtown luxury apartments, why do you think it is going up so much recently.

        Magic wand? People in the west think density is so hard to get because we have a ton of bureaucracy and zoning to get through. It took them five years to build anything. To me, all that is 300 dollars a square foot plus land cost to build.

        Are you seriously talking to me about attached vs detached. Have you done any research on how much more detached has gone up vs attached, particularly condos? To anyone who has been in Vancouver it is not comparable. Did you not see the report whereby 70 percent of detached on the west side were bought by the Chinese last year. And if so, what are you talking about.

        Dont believe me? Do this? Go to any open house on a detached in the four areas I listed, see who is there. Go to an attached listing, see who is there.

      • One more thing, is there detached houses in Hong Kong? If they don’t have it, then what else can you buy?

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