What’s going on with Vancouver real estate?
Everyone including your mother are probably wondering what’s going on with Vancouver. I’ve been investigating this phenomena ever since last year and the answer, it seems, can’t be summarized by one word or one sentence, but a picture.
To understand Vancouver and particularly Richmond, we must first understand China. To understand China, we must begin from the most fundamental belief that they hold with regards to business: èƒ½é¨™å°±é¨™ (roughly translate to: Lie if possible, meh if not)
The holy Grail of RE nowadays is catching the attention of what is referred to as flying Asians (Think fen shui and the # 8 in your address). Mysterious aliens that parachutes off airplanes to buy Â houses with millions in cash. It is no secret amongst us Asians that these are fraud money obtained from China and shipped oversees to be laundered into clean money. The government of Canada does not care about where your money comes from during the first 3 years people immigrate into Canada. So a approved flying asian can potentially move all of their fraud money into Canada. Tax free and pluck it down in a house like they always do.
Now where do these fraud money comes from? QE2, Chinese stimulus, people who bought into fraudulent chinese companies that got into the US market through reverse mergers. The plastic things you bought with that line of credit you got with your home. The posonous Chinese drywall installed along with the new condo that sprung up in the middle of the buying frenzy. You name it.
Of course, these are all heareasay. My blog has no proof and no evidence to backup my claim. I just listen and discuss with everyone I know that are involved with the real estate market… and I infer its consequences. I am a stock speculator afterall.
Vancouver real estate III