Chinese Take Over Canada's Real Estate Market, Buy One-Third Of All Vancouver Homes Sold In 2015

Zero Hedge ^ | 03/24/2016 | Tyler Durden

[bert]

the old order changeth, yielding place to the new

the new order emerging in the form of millions and millions and millions of young chinese seeking a better life is bringing change not even dreamed of as recently as 25 years ago.

seamless transition absent some disruption should not be expected

i phones are destroying the old order

[beelzepug]

I live less than a hundred miles due south of Vancouver. Our prices are high but that little house in the picture wouldn’t fetch $150K and would probably be sold as a tear-down except the lot is too small to build on under today’s code.

Are wages and salaries that high in B.C.? I see a lot of people driving BMWs, Audis, and Mercedes down here shopping. Lots of Chinese and Indians (dot, not feather) in Costco on weekends. Vancouver is a forest of high rises; I don’t know how many are apartments and how many are condos. You know that kind of living has to be unbelievably expensive. How do they do it?

[semimojo]

however, the chinese like to gamble and in vancouver have placed vets against very long odds

At least the Russians bidding up Manhatten prices have the Arabs and the rest of the world's big money also wanting a piece of NYC.

Not sure who else is willing to pay up to buy into BC.

[minnesota_bound]

How do you say “Eh” in Canadian Chinese?

[Original Lurker]

I much prefer kimchi to egg rolls.
Just a bit of levity to your response, however..

(Koreans outnumber Chinese 3 to 1 in my home town - ha!)

[AllAmericanGirl44]

I seem to recall the global warming liar Maurice Stong, we parked his a** in China, declaring that China would overtake us because hey, that’s what should happen according to him.