Is super rich Chinese buying property and fucking up markets real or just a meme?

Is super rich Chinese buying property and fucking up markets real or just a meme?

Other urls found in this thread:

sbs.com.au/news/dateline/story/chinas-millionaire-migration
youtube.com/watch?v=fhLBIMwvnYA
cbc.ca/news/canada/british-columbia/property-transfer-tax-chinese-student-1.3719106
zerohedge.com/news/2016-05-23/dramatic-time-lapse-animation-showing-americas-absurd-million-dollar-home-bubbles
news.nationalpost.com/news/canada/in-a-six-month-period-70-of-detached-homes-sold-in-vancouvers-west-side-went-to-mainland-china-buyers
youtube.com/watch?v=FwmUUhsfKuc
twitter.com/SFWRedditVideos

It's real

HOLY FUCK MY RESEARCH JUST UNCOVERED IT WAS THE LEAFS.

As a real estate broker in Toronto I must say it is real and it is spectacular.

No. It's shit. It's worse than snowbirds buying up whole streets in florida

They really have the buying power to fuck up markets like that?

far too real, we need to ban chinese purchasing property

Gee... dunno, onan
sbs.com.au/news/dateline/story/chinas-millionaire-migration

related:
youtube.com/watch?v=fhLBIMwvnYA

do you allow chinese to own property in non-anglicized names?

It is pricing out the locals, to be sure.

There are small starter-home communities being built all over southern California on the few empty lots available. Chinese materials, Chinese construction crews on Visa, Chinese money. No joke.

Vancouver just implemented a new tax on foreign buyers.

Toronto is looking at doing the same, but organized real estate here is pushing back.

You're lucky you need to ask m8. My generation will probably never buy there own home or at least have a mortgage till they die. My city Melbourne is absolutely full of construction sites where they've bought a home and a building a block of tiny single person apartments. The govt starting to put the brakes on it and it's slowing, but property prices are still insane with no end in site.

Yes

It's real in Australia

I knew the leafs were getting it hard, but then I saw an article it may have affected Aspen's market (and Denver too).

Well

They drove the prices up in California. No longer are the days of bidding wars with highest price plus no conditions are what get you the win, it's about liquidity: how soon and how much can you send money directly to the sellers lawyer.

When prices eventually got too high in California they moved to other markets. Things are super bad in Vancouver and Toronto. What is pissing off more people is that Canadian residents who would actually occupy the homes can't afford the soaring prices. Instead for foreigners it's a way to dodge taxes while having an investment that in 5-8 years will double in price and turn a handsome profit. It's fucking shit. At least snowbirds use the homes they buy and rent them out while not driving up the price of homes. It's shit.

My college town is overrun with Asians
Thanks UIUC :D

It is real.

Canada recently put in place a tax to try and curb it.

CBC immediately posted some sob story about how it ruined some girls life. OMG don't you feel so bad that her rich ass didn't read the news for the past 6+ months and didn't know about the tax and we should get rid of the law immediately?

WHO WILL THINK OF THE FOREIGN NATIONALS!?

>cbc.ca/news/canada/british-columbia/property-transfer-tax-chinese-student-1.3719106

I just wonder when this housing price shit is gonna finally pop. More and more people are struggling just keeping a roof over their head.

It doesn't exist in the Northeast United States, at least from what I've seen. Must be more of a warm-climate thing.

...

those "canadians" are fucking chinks

It's not a fucking meme

Real, 0% interest loans when buying foreign property for chingers

It's real but it's also the only reason the housing markets in NY, Canada and Australia haven't collapsed. So it's a double edged sword.

I happen to know Australia is very ill prepared for a collapse in the housing market, like we saw in the US during the 2008 sup prime mortgage crisis. A similar collapse here would entirely wipe out our big 4 banks and numerous other lenders. And Australia simply doesn't have the money to remotely consider a bailout.

Hopefully Australians would be smart enough not to allow the government to even suggest one.

I know banks in Canada aren't handing out loans to people that can't afford it. A lot of recent grads with debts cannot get any more than 250-300k approved and that's assuming you have a gf or wife to go in with. Banks aren't going to hand shit. Your best bet is to have

No debt
2 income household
You already own property

Then you can afford today's housing in Toronto or outside Toronto. Otherwise you're up in keswick or Beaverton maybe Barrie.

t. gqchiqingzhoiu

how deep does this rabbit hole go?

CHINESE EXCLUSION ACT NOW!!!

all the way through the earth... to China

yep its real, property prices here are going through the roof

about 20%+ increase per year in prices

FOB chinks just bought up two properties in my college town neighborhood, which are being used as rental housing exclusively to other FOB chinks going to college here.

It's fucking weird. I don't like it.

I should add there's been a few positive developments recently. There's a new tax on foreign buyers and banks are no longer lending to foreign investors except with the harshest rates, which is pushing out anyone but the wealthiest. There's also been a scandal just now where the government stopped a state government from selling majority shares of a fucking electrical power grid to a huge Chinese company. People aren't buying the xenophobia bullshit there and openly are pissed about selling out the national interest for just a few billion. Also those investors building all those apartment blocks are getting fucked because no one wants to buy overpriced shoeboxes to live in. They build fucking useless properties exactly how they do in their ghost cities.

its shit. I'd tax these fucking ghouls 500%

>As a real estate broker in Toronto I must say it is real and it is spectacular
if you are then enjoy your time before the native masses turn on you for selling them out.

also enjoy swinging by your neck from a lamppost when the time comes.

>Capitalism and Free Market is good
>Except when those dirty foreigners do it
Sup Forums will defend this.

wazzup goys

so i herd u liek chinks, and chinks like to buy ur shit

2bad4chinks we own everything they buy the chink should fear the jew

Governments should tax the living fuck out of foreign investors.

My problem isn't that they're doing it, but that THEY are getting benefits instead of Citizens.

In and around boston it's the same thing, every open house all chinks in the same Lexus suv paying 350+ all cash for houses worth 150 5 years ago.

It's not capitalism or a free market, they are taking money made from slave labor in China, converting it to dollars and illegally bringing it to America to hide it in real estate. This is why they always pay all cash.

I'm a little surprised the whole thing hasn't collapsed by now.

>Governments should tax the living fuck out of foreign investors.
our weak assed pony tail pulling pm said house prices are part of the free market economy and can/would do little to interfere with it.

he's a complete asswipe

hope the working middle class voter waves the single digit to him at the next election.

It's only real in Vancouver, BC.
Everywhere else its a shitty meme. Yes there are some fuerdais and corrupt officials but not enough to boost anything substantially.

In some markets, like the Palo Alto residential market, foreign buyers make up 40% of the sales. China on top there.

Yeah let's alienate a significant majority of the educated populace that hold up the social structure.

It's the foreign shore money and your own greedy ass selves that is responsible for your current predicament. Most of the Chinese who are in Canada are middle class at best, they don't even care if you want to kick them out.

Most Chinese I go that move to Canada as a step to the US; they know Canada is a shithole dependent on natural resource exports. Telecommunication and high tech businesses sectors are none existent.

see

It's not Mrs Chang and his Mrs' that's just driven it to this extent, it is economic warfare, their state run bank, is giving chinese investors interest free money to buy property which is seen as strengthening chinas global strength

>letting foreigners buy up US property
Shamfur dispray

It's really happening in Seattle. They are paying cash over asking price sometimes. This used to be a middle class town. Not anymore.

>2016
>not embracing National Capitalism

zerohedge.com/news/2016-05-23/dramatic-time-lapse-animation-showing-americas-absurd-million-dollar-home-bubbles

>tfw White Australian Male
>tfw own 7 houses in Sydney and 3 in Melbourne
>tfw rent them out for massive fucking dosh to non whites, but really really nice rates for whites
>over 800 a week for Asians, as low as I can go for whites (around 300 a week) for 2 bed 1 bath places within 10 minutes of the CBD
>tfw have fortnightly barbecues with renters


When the housing bubble pops I'll buy an absolute fuck ton of places and put them up for rent at low rates. My last name starts with a P in case you ever rent from me.

The worst of Chinese speculation is in Orange, Riverside and Irvine Counties. The middle.class will feel this crash the worst as mega-properties are undervalued now. You can get a $10 Million property for $3 Million if you have cash - banks do not do loans on these properties.

The $300,000 - $1,000,000 homes are at or beyond 2007 valuations right now in many areas.

Mate it's written into law. We're on the hook for at least 400bn and we've got enough credit for that.

We're giving free insurance to the banks for 400bn. The Greens wanted to make them at least pay something for it like you or I have to pay for car insurance.

Seattle has too many overnight tech "millionaires"

San Francisco is the biggest culprit of this - and is already showing signs of popping or deflating.

Damn straight it's real. It mainly affects big cities but it keeps prices stable in other cities as whitey gets pushed out.

This is the future of housing in the West. Owning an actual house will be only for the wealthy. The price of renting even a regular apartment will eventually be too expensive for the average person and these newer micro "apartments" will be the norm. And since they'll still be heavily in demand, they too will be adjusted to cost the majority of a person's meager income. Waves upon waves of the peasantry, living like caged animals in a boarding kennel.

Hello, American friend.

It's just a meme.

In Canada, we have the Canadian Mortgage and Housing Corporation which is exactly the same thing as Fannie Mae/Freddie Mac.

Essentially, banks in Canada give out mortgages to anyone of any size because the banks no longer take on the risk of the borrower defaulting. The borrower has to pay a CMHC fee along with mortgage payments to protect the bank from you defaulting.

Even though only 4% of purchases in the last year in Vancouver are from China and they bought at an average price of about $900,000, just as regular Candians did, Canadians are convinced that the Chinese are moving the market and are to blame.

The media has been telling this story for a long time, but it doesn't explain the rapid appreciation of real estate valuations throughout Canada since about 2003 until present. The last thing that Canadians want to believe is that Canadians themselves are responsible for this housing bubble/crisis.

The fact that the government of British Columbia passed a 15% tax on foreign funds buying property has caused regular Canadians (who were the ones who propped up the market) to be terrified because they believe it's the Chinese buying it all up. This tax has little to no impact on the Vancouver real estate market directly, but it will have a huge impact indirectly through psychology.

realtors aren't credible.

HR, journalists and realtors all need to be shot.

Just a meme. Don't be racist now. I live in Vancouver, there's barely any Chinese. The media is it just fear mongering.

Trust me.

locals are pricing out the locals.
19 year olds are getting $50,000 from their parents to make 5% downpayments.

WHERE YOU AT IN MELBOURNE? White guy looking to rent a house starting october (24 year old) can EASILY pay rent and such

Too many monkeys, not enough trees or bananas. A country like Canada when it opens its doors to Poo or Chinkdom is like emptying a bathtub of filthy water into a teacup. Cuntry is kill.

GOOKS DETECTED. GTFO FUCKING CHINKS.

You sound like a top bloke. Do you have an opinion on whether a downturn is coming/how soon?

>silicon valley
>tech boom/revolution
>no one wants to allow any land to be used for building
it wasn't the chinese.
how the fuck can a country that consists almost entirely of termite rice-pickers suddenly be rich enough to buy up everything?
you make them sound like they're the fucking boogeyman.

Its real. Depite their being no real wage growth since 2012, Australian property prices are still posting yearly gains of 9 percent per annum. The chinks are driving up prices everywhere. My house which my father purchased 25 years ago for 50,000 dollars is now worth more than 1 mill. Im trying to get my mom to sell the place before the market crashes.

This

It's real

Don't be ridiculous senpai. There's like 0 Chinese in Canada.

Both of our countries have so much fucking open land it's ridiculous. You can just move to a rural area for cheaper living.

Too bad you can't leave your favorite gaybars behind in the city.

i'm not a gook. they're termites. you should recognize that and know that they're not driving RE prices up.
i'm saying that canadians are retarded enough to drive up the home prices themselves.
wouldn't it make sense that 95% of the economy and buying power in the country are driving up prices of something used by everyone when the banks give everyone an infinite amount of dollars to buy that thing
vs
chinese buying everything in a far away land at inflated values right next door to a country that saw the biggest real estate crash in history just a few year earlier

I hate these yellow cockroaches so damn much. If I'm not surrounded by old people I'm surrounded by these fucking chinks. Useless fucking hippies invite these yellow roaches en masse to ruin the country.

Vancouver BC
Average household income ~70k cdn
Average detached house price ~1.6 million

You tell me.

it's retard canadians doing enough damage themselves
we bought into the "canadian banks and finance are well regulated" meme
we're just copying what the yanks did 15 years ago

>Both of our countries have so much fucking open land

Which will be flooded with foreigners as well. The world's population will be over 8 billion by 2030, and most of that growth will come from China and assorted Third World places in Africa. Since the West loves to commit suicide in every single way it can, they will be inviting even larger hordes of these people in.

>just move to a rural area
>where there isn't work
>can't pay for this rural land

nigger please.

it's fucking real

>t. Xiong Zhao

How is it a double edged sword? The markets NEED to collapse. Correction is not always a bad thing and when a literal half bedroom apartment sells for 2k a Month its time to Collapse.

this is a few years old. would be more like 4million in vancouver now.

Also the chinese shill is an idiot.

About 3/4 homes in vancouver are sold to chinese:

news.nationalpost.com/news/canada/in-a-six-month-period-70-of-detached-homes-sold-in-vancouvers-west-side-went-to-mainland-china-buyers

also, in m apartment building its pretty much empty. just owned by chinese real estate speculators.

it's just a meme ,sort of
the merchants are just using their yellow merchants as a proxy
and some are actually yellow merchants

youtube.com/watch?v=FwmUUhsfKuc

>tfw my mom owns a large amount of property on the southeast corner of that map that she bought at a small fraction of its current value

feels good man

she is trying to buy be a condo now though and the market is fucked all the condos seem to have multiple offers often cash and sell over list price. not sure how many of the buyers are chinks but the entire area where she lives is full of chinks many of them cannot speak english. she is making an offer on a condo for me tomorrow hopefully they take our offer it is over list price

Vancouver condo market is similar.

I bought mine is a nice building downtown a decade ago for 300k. Its probably worth about 2 million now.

its 60 stories supposed to be over 500 people.

I talk to the concierge often. he says between 6am and 9am, hes seeing about TEN people leaving for work. thats it. The rest are owned by super rich chink real estate speculators and left unoccupied for 99% of the year.

>Canada will never un-meme itself

...

just got off the phone with my mom.

they had several offers 15% over list price. this market is a holocaust

>free on board
I know they're desperate to get over here but I didn't know they'd ship themselves as cargo