Aren't Chinese super stuck up when it comes to this shit?

Like they will scoff at you if you go to Toronto from Van because you can't afford it, so you are therefore a peasant bottom feeding dirt peep?

It's like Chinese here, if you can't buy in Markham and go to Scarborough you are basically cut off

So you are saying we should violate all the treaties that we have with other countries regarding equal treatment of investors? Treaties like NAFTA, and then put tax payers on the hook for settlement so that people in Vancouver can buy a cheaper house. Yeah, fuck that. If you can't afford Vancouver, move.

http://www.straight.com/news/746041/trad...-violates-nafta

sucks for the foreign nationals that are trying to settle here without an excessive amount of money

Right

So all those million dollar homes in the GTA being scooped up by Chinese are bottom feeding peasants.

They really don't give a shit about Vancouver vs. Toronto. So long as their investment is protected from the government, that they can launder their ill gotten gains and their investment is gaining value, they really don't care if its Toronto or Vancouver.

The only reason they favored Vancouver in the past had everything to do with Vancouver home prices increasing at a greater pace than anywhere else in North America. They'll just repeat the same scheme elsewhere. Next logical target: Toronto.

In fact, they're already starting! Bro in Law from Gaungzhou wants to move 3 mil out of China and he's been asking about this 15% tax in Vancouver. He's now asking us to start looking around for a $2 Mil property in the GTA. I'm getting a bit excited about it! He has no plans to move to Canada, just park his money here. Hopefully we can "house sit" this 2 mil place.

FYI I'm in open houses every weekend and it's all Chinese (mostly investors a lot of agents not even with clients). If you're just a regular person buying a house for your family to live I don't care what you are. When you're an outside investor driving up these rediculous prices and "game" that's going on I do have a problem. Having said that I get why is happening and I don't blame those doing it but measures have to be taken to curb what's happening to the destruction of affordability in Canada as a whole.

I'm not even exaggerating at all 98% of everyone there is speaking Chinese. A little more than a coincidence.

Like I said I'm all for anyone buying and living if you're actually living here and contributing and being part of society.

It really is unfortunate - but what is happening here is even making it more unaffordable to them vs the tax. 10-20-30% annual increases in average selling price per year is much worse than a 1 time 15% tax.

That makes as much sense as c2k's posts, possibly more.

Probably isn't to be honest but what can you do. Pretty funny these days a high income means you can own a normal decent house. Can't last forever unfortunately.

To be honest at what point do people just say F-it and move somewhere else where at least the weather is good and without all of the excessive taxing? Cali pricing without the weather.

cali pricing without the weather but we got teh jerbz!

given our fairly decent climate (seasons exist, but nothing shitty like earthquakes/tornadoes etc), cultural diversity, job opportunities, political stability etc...i'm surprised that housing is not MORE expensive...

Average sale prices in the GTA are up 3% since you finished typing that post.

Now all those Vancouver Chinese buyers will come here instead.

And sleep in IKEA.

On airplane seats? Backstory?

**shit son**

hk washroon PWNED by mainlander

**shit son**

hk washroon PWNED by mainlander

recession come every 10 years, its been 8 years now since 2008

The report, released Tuesday by Sotheby's International Realty Canada in conjunction with Juwai.com, said Chinese inquiries for listings in the Vancouver market slumped by 81 per cent year over year in July 2016, the month the 15 per cent tax was announced.

The report says interest from prospective real estate purchasers on Juwai.com immediately shifted into other Canadian markets following the tax's implementation.

Property inquiries shot up by 1,050 per cent and 420 per cent year over year in Calgary during August and September, respectively. Searches of the Toronto market rose 62 per cent year over year in August and 72 per cent in September. In Montreal, there was a dip in August, before a resurgence of 152 per cent year over year in September.

It's funny to hear people here in Oregon complaining about real estate prices with all the Californians moving up and Seattle people moving down since it's the cheapest city on the West.

Sure, it's gone through the roof! Now married 20-somethings get a detached bungalow in a good area rather than 2 story house for their $3xx.

Toronto is stupid. Jeff what's your latest update?

Some shady shit going on my hood now, some foreign family is buying up homes exclusively (private) for 200-300k over bidding war prices as long as you sell private on specific streets - i happen to be on one of them.

Let's say a bungalow will go for 1.3 through the normal process, they will give you 1.5 if you sell direct without listing with some INSANE deposits. I have the agent's card on my table (thanks to an anon CSIer) and i am looking at it every hour, they've already picked up a few homes in the last month all well over a mil for their "family members".

Some shady shit going on my hood now, some foreign family is buying up homes exclusively (private) for 200-300k over bidding war prices as long as you sell private on specific streets - i happen to be on one of them.

Let's say a bungalow will go for 1.3 through the normal process, they will give you 1.5 if you sell direct without listing with some INSANE deposits. I have the agent's card on my table (thanks to an anon CSIer) and i am looking at it every hour, they've already picked up a few homes in the last month all well over a mil for their "family members".

http://www.msn.com/en-ca/money/homeandproperty/big-homes-little-prices-you-can-buy-a-lot-for-a-little/ar-AAo21yD?li=AAggNb9

ffffuuuuuuuuuuuuuuuuuu

Your theory sounds pretty far fetched, but I honestly wouldn't be surprised if it's exactly what they are thinking.

They also aren't Chinese

Some shady shit going on my hood now, some foreign family is buying up homes exclusively (private) for 200-300k over bidding war prices as long as you sell private on specific streets - i happen to be on one of them.

Let's say a bungalow will go for 1.3 through the normal process, they will give you 1.5 if you sell direct without listing with some INSANE deposits. I have the agent's card on my table (thanks to an anon CSIer) and i am looking at it every hour, they've already picked up a few homes in the last month all well over a mil for their "family members".

I hope this happens!

http://m.metronews.ca/#/article/news/tor...ing-market.html

Although if this does happen, does that mean Markham will become a ghost town again?

Sounds like gentrification.

200k over is to cheap already these days.

I'm all for the tax. Intact. Increase it. They gonna pay anyways, might as well gouge back.


Did anyone see the article in cp24 saying the reason Chinese are buy all the property is for schooling. I call bullshit

http://www.huffingtonpost.ca/2017/03/13/toronto-housing-bubble-24-months_n_15335246.html

Bring it.

continued income growth

the rate of home construction in the Toronto area is “well above historical norms.”