33 Replies to “What Bubble?”

  2. The whole area around the Cambie corridor is being redeveloped. Even the apartment complexes are fenced, boarded and ready for demo. Is pretty much the “Canada line” effect.

    1. Yessiree! With 20% down and a 3%, 25 yr. mortgage, it’s only 1$26,426/month. Helluva deal, all thanks to the Chicoms. To learn the facts behind that story, pick up ‘Wilful Blindness’, a real blockbuster from Sam Cooper. It’ll blow you away.

  5. A parking space in Honk Kong went for $1.3 Million USD even thought the chicoms can take it over the whole place for real tomorrow. No financial investments in the world are making money except property and crypto. One can loose 30% in crypto value over night so why not buy a some dirt with a shack for 7 million if you have access to 7 million in credit or 7 million just sitting in the market earning nothing. Put a new house on it and sell for 10 million.

  6. I recall, at the height of the U.S. housing bubble, a short news story showed 80 feet of ocean beach front (weeds, no structure) went for about $2-million. Then the bubble burst.

  7. Imagine owning the deed to that Palace! The lucky buyer will pay only $10K property taxes for the privilege of picking up mail at that postal code. At least there’s a fireplace for when the Mayor bans natural gas and the hidden backyard’s probably a horticulturist’s gem. It would probably be easy to put in new lino and interior paint for under $2000 to make it move-in ready.

  8. WOW, piece of dirt for almost 7 million dollars. As Kate’s headline says, What Bubble?

  9. Property Taxes north of $10,000 per year. No Country For Old Men. Seniors get the hell out I think is the message for anybody who owns their home in Vancouver.

    1. That’s the CURRENT taxes … that cannot be the taxes for an $8M home … that will be more like $100k/yr.

  10. Nearly USD $5.8MM. Unbelievable. All driven by money from across the ocean?

  11. This is what happens when a dysfunctional country’s main economic driver is immigration. And slashing immigration #s would throw us into deep recession. Basically, we’re f#@ed.

    1. Actually you know how many good kids that have been working and saving, would benefit from the market crashing…lots and they deserve to be able to pay a decent price for a starter home.
      I work in London Ontario, and I’ve never seen as busy a year. Either people are really rich, or they are throwing caution to the wind.
      I’m of the camp the smart people are saving and getting ready for a double whammy, your only rich if you paid for your house you paid way to much for in the first place.
      I don’t want to see the world burn, but the bottom dropping out from under the short sighted might just clear the air.

  12. Well gee, lets see, I have a paid for, three level single family house, with ocean views and a quiet area, with an open park across the street. I could maybe sell for a mil or two, and then downsize to a three room shack out in the boonies. The problem is the three room shack will also cost a mil or two, so what’s the point. I want to see it crash, so the younger set that aspire to owning a home can actually afford to get started. Even with a crash, I’ll still have what I currently have, but at least the kids can finally get started. From my cynical side, I think it’s all done deliberately to advance the, “owning nothing and being happy meme”. Of course we’ll be happy, because we’ll be told to be happy, and like it!….Or else.

  13. I grew up near there and it is developing property that will be replaced with multi story development. Hence the values

    1. That’s right. I have witnessed the changing landscape. Most striking are the 5 or 6 tall buildings clustered at the corner of Cambie and SW Marine Drive, all around Cambie Station (Canada Line). It literally changed the mood of the intersection, as it is now perpetually gloomy under eternal shade.

      1. “It literally changed the mood of the intersection, as it is now perpetually gloomy under eternal shade.”

        It also screwed the traffic situation right up…very rarely can you get by that intersection without waiting for at least one light change.

        1. One light change? It took me 15 mins going west to get through that area back in 2019 during rush hour. Then another 15 to get to the bridge

  14. Used to be a nice part of town until successive waves of (mostly) mainland Chinese money overran it as well as the other nice, prestigious parts of town like West/North Van, White Rock, etc. Now the quiet streets of Dunbar are populated with Chinese restaurants, forex traders and massage parlours – standard requirements for anyplace that those folks colonize.

  15. The price of enrichment.
    Note the agent’s name, and the illiterate broken English description of the property.

    “Land assembly on the Cambie neighborhood. Quite inside tree lined street. Cambie corridor phase 3 potentially be developed townhouse. ”

    Vancouver is being colonized by Chicom slave labour profiteers.

    1. How else would their “clients” understand? What? Describe the property in French!?

  16. ‘Ask and ye shall receive’?
    Is there a developer crazy enough to go on the hook for $7M for a 60′ frontage?
    Here, maybe 20mi. away, you can buy a custom built waterfront (150′) home on 1 1/2acres for $3.5M.

  17. $7 million and they can’t get it proof read properly.

    “Quite inside tree lined street.” Is it really quite inside? Or, did they mean “quiet”?

    In other thoughts, what are cardboard boxes on East Hastings going for?

  19. No Chinese wants Yuan. Its chump, company store chits for serf laborer( Chinese workers )
    So Chinese exploiters, US/Everyone profits off the poor Chinese working stiff getting paid, no worker rights, no unions, in worthless Yuan/Renimbi. Commie rich Chinese use China as a dollar mill then get it out of the country as fast as they can. Otherwise fellow Commie Chinese fks will gin up so thug reason abd take the dollars.
    So you launder it in Canadian RE.

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