What does a 7 million dollar home look like in your country?

What does a 7 million dollar home look like in your country?
This is what they look like in Canada

Attached: 2018-03-21 15_21_58-Aging Vancouver home listed for $6.98M _ CTV News.png (652x409, 506K)

Ah so this is the power of Asian immigration

And Jewish politicians

>home
It's the land which is worth anything, not the shitty house on it. A developer could snap that up and turn it into fifty million profit.

Land value.

>Leaf Dollar

Vancouver isn't Canada.

This is why chink immigrants are worse than any other.

welcome to any big North American city

I don't see the big deal about this story. It's in a very good location right in the city. It's the land which is worth $7 million. This shit is going to eventually be turned into a multi-unit property.

It's the houses out in the suburbs going for >$1 million that is the problem.
I don't live in BC, but my former neighbour sold his house last year for over $900k, was paid in cash, and the buyer was planning to put in another $100k in remodeling the basement and kitchen (even though my neighbour literally just finished his basement months before selling the house).
My friends are being forced to buy houses far from the city and the mortgage is still raping them.

This is a good thing we have such a great country everyone wants to live here!

t. r/canada

obviously its the location, not the home itself. if you got $7 million to buy a home, you have enough to tear it down and build a new one too

Attached: 65465465.png (1338x878, 2.26M)

Well, it's also a problem that this multi-unit property could be left vacant as it is just a money hideaway for some billionaire in mainland China, and this practise drives up the price of rent all through Greater Vancouver.

it's actually wh*Te Anglos doing this garbage

>They are driving up my property value! How could these evil insectoids do this??

Why don't Canada have a law that states you must spend x amount of months in a year in the houses you buy like ANY other civilized country?

Attached: Thinking_Face_Emoji.png (640x640, 111K)

can't be real

this is what they look like in Argentina.

Attached: patagonia.jpg (1600x811, 551K)

Isnt that price for the land its built? I can't believe that house has value, unless its some historic relic.

The issue with Vancouver is actually our NIMBYS and terrible zoning laws. The city did a check and the amount of vacant properties was miniscule (a few %, maybe 5)

Attached: 2018-03-21-225804_858x1062_scrot.png (858x1062, 620K)

why the fuck is it considered a bad thing that chinese people are literally importing millions of dollars into canada for fucking imaginary lines

this seems like a good thing to me, this is just pure money going into the candian economy

if the real estate market ever does crash, who will lose out here? Just the chinese investors, while the normal people will then people able to buy land for cheap, while the inflated prices the investors paid for that land stays in canada

the system is fine, no reason to change it

if anything, I would say they should just require that vacant property is at the very least open for renters so people can actually live there, other than that there is no issue

To put this further into perspective, we have single family homes like 3 minutes from the downtown core which are not zoned for towers as they should be, so everyone is competing for way too little supply for the amount of immigrants coming in.

We should be zoning HK style towers to hold a larger population.

Based chinks, hope my brothers can leave me some

Yeah exactly, the house predates the skyrocketing price of Vancouver real estate, it will be torn down and replaced with new condos most likely. It happens in most cities, just not to the same extent as Vancouver. My grandparents were poor and bought a house and land that was worth dog shit in the 70's, then 30 years later they got to live like a king and queen for the rest of their days after selling it to a developer who tore down the house and built a subdivision.

Some jew will buy that plot of land, put up a 20 story building, sell the apartments at a million each to CPP members and clear 13 million in one year

The winners are original homeowners, the boomers. The losers once again being you sorry millennials. Enjoy bowing to your chinese masters, you dumbshits too lazy to get a decent job. You have ZERO sympathy from my generation.

Attached: 1508597700788.jpg (716x960, 140K)

it is a problem that foreigners buy up property in another country's cities and not live there most of the time. making affordable housing for the people who actually work and live in the city near impossible. unless you like seeing 100 floor empty skyscrapers of course

what's the property tax in Canada? in Poland houses are quite expensive partly because property tax is extremely low

Attached: 3afa1037368d854a4c0573e739dbd62d.png (1280x1024, 1.61M)

Why don't you just spread your cities?

Owned by a tv host.

Attached: 4.jpg (970x600, 125K)

The US border hems in Vancouver which is the major issue.

I think we should just join Washington but Canada would never let us leave.

The Canadian user above claims that this was not actually a problem - the amount of vacant property is quite small.

I haven't looked into it but assuming this is true, what issue do you have with foreign investment into Canadian real estate?

The issue seems to be the same issue that San Francisco is having - the residents don't want the city to change, and push for extremely restrictive zoning laws and building restrictions so new housing developments cannot be started. Down the street from me, a developer was recently forced to postpone a project because an old lady who lived a mile away from the building complained that the new development would interfere with sunlight near her home.
The problem isn't with the investors, it's with the shitbag NIMBY old people who live there. Foreign investors are just a boogeyman.

>spends x millions on meme villa
>still has a ribbed roof

THIS.

My mother works with the city council, they constantly have a small group of about 20 people who go to EVERY meeting and block any development. It's literally those 20 people who are causing all the problems in the city. They put up every roadblock possible and approval for anything takes YEARS.

So then developers only do it for super high end units, and lower cost housing vanishes.

Ah yes one of the last houses in the most dense part of all of Canada. Your dumb if you don’t think it’s worth 7m at least.

most european cities have a problem with this too, but that doesn't mean small lots in the city center go for as high as $7 million and suburb houses for $1 million.

Yeah, that's one of the wealthiest neighborhoods in Vancouver. That's top-tier real estate that can and will be developed into luxury condos.

Goddamn, the fact that Vancouver is so expensive hurts my heart. As soon as the property bubble bursts I'm moving back.

>As soon as the property bubble bursts I'm moving back.
I have heard so many people saying this, it makes me really wonder how far down it can go.

>It's literally those 20 people who are causing all the problems in the city.

Are they circumcised?

I'm wondering that too. I essentially live in NYC, and property values can go up indefinitely because there's a huge pool of talent in the US that is willing to live like shit to be in ~the city~ and/or get a start in their career. Canada doesn't have the numbers to the same degree, so I wouldn't be surprised if the bubble bursts within the next decade, but who knows. Vancouver is importing talent from developing countries like crazy, and they're willing to live like shit too. Goddamn do I love the city though. Closest thing to 'idyllic' that you can have for an industrialized non-Euro city.

Why don't you just ban non-citizens from owning property already?

oy vey goy, if we did that then we'd be one step away from annudah shoah

vancouver is fucked because of geography, water to the west, mountains to the north and east, america to the south (red border is approximate)
then add an inlet and a forked river so you have multiple bridges to make commutes bad unless you live right in the city
now limit development in most urban areas to three stories, and prevent the farm that grows flowers and pumpkins from becoming housing because of 'food security'

it's one of the worst places to build a city for 2 million

low, in vancouver it's like .2%, but you have to pay a 2% transfer tax at sale

vancouver is fine until china has a recession

Attached: vancouver_island.jpg (850x630, 403K)

This doesn't even make sense in the context of Canada. Why are you stealing American conspiracy theories instead of making ones more relevant to what's actually going on in Canada?
>vancouver is fine until china has a recession
Hopefully it happens fairly soon. Tech companies are going to continue to move in because the Canadian dollar is weak, which means that, if the market crashes, property will be ever so slightly more affordable while the job market won't suffer too much. Ideal conditions.

right but if you're young you're screwed and well effectively you're forced out of your hometown by immigrants

looks like shit

Attached: 7 million dollar house.jpg (640x480, 170K)

Buyfags btfo.
>renting is throwing away money
Enjoy your 900k debt to avoid the rent "scam"?

This, from an /n/ perspective.
Then you get abominations like Houston where it takes two hours by car to cross the city and it's in constant gridlock. Building out is how you get shit tier shitties no one wants to live in because they're impractical. To build a good, liveable city: build up, put metro lines in (any rail transit is good transit), make blocks walkable, use mixed zoning so you have shops on the bottom and apartments on top.
A plot of land being used for single family homes is like saying, "this person is so important they need to live here, and everyone further from the city center than they are has to spend that much more distance to go past their house to get downtown every day." Multiply that by a thousand single family homes and it becomes an hour commute. Distance from city center should be thought of as an order of importance. Ideally, the center has office towers, surrounded by mixed use towers, then the next radius tier with apartment towers, and from there it diminishes to smaller apartment complexes and finally single family homes and rural land in the furthest ring, because by then your surface area of land to use in that importance tier is large enough where single family homes don't clog up the transit into downtown. In other words, you end up with the most people (all the fucks in apartment towers) closest to where they work (downtown) and only a few people (single family houses) have to go far to get to work. It massively reduces the number of miles people in the city need to transverse every day, which reduces traffic congestion. So in other words, instead of having everyone need to drive hella fucking far every day, the majority of people have a very short commute, and even those who live in single family houses, because you replaced all the potential need for single family houses for all those apartment-livers with condensed housing solutions, now even those in the single family houses are pretty close.

vancouver is fucking insane
chink" investors" should be shot on sight

awesome

Also this. NIMBYs fuck urban planning up. Hilarious that our individual voices cannot stop a war from happening, but they can grind a city to a halt and effectively destroy it forever.
It's all a giant racket where the people whose properties are now worth 7 million for a busted shed in city limits are probably the same as the ones making the policy, so they profit and we all get fucked with either insanely high rent or insanely high commute times. It's villainy and should be illegal. But when the people who profit from breaking the laws are the same as those who write the laws, there is no way to stop it.
tl;dr bullzone single family houses and install apartment towers, for the love of fucking god you stupid shitbag old fuckhead retard NIMBYs.

>20 kooks causing problems for millions of residents
kek, just set sopranos on them or something.

why are building threads so good?

Attached: 1519564222643.png (1000x802, 71K)

urban sprawl doesn't fix problems. it results in shit like Phoenix or LA where the average commute time balloons with the growth of the city.

I used to live in Phoenix - it took me 40 minutes by car to get from my home to my high school.

This. Fuck suburbs and urban sprawl

only reason I want a home is because being told i've got a month to vacate when I'm like 65 years old would be a real shitshow

When will it burst ?

never. Population=demand and its ever increasing. The very best you can hope for is a small market correction. The prices are going to keep getting worse and no one is ever going to build enough to saturate the market because that would be bad for their ROI.

This.

Especially in the western real estate market, and especially after the 2008 Great Recession - there are too many protections in place for the real estate market to crash any time soon.

While China's bubble may burst in the coming few years, the housing prices in SF and Vancouver will continue to increase, or at the very least stagnate, for the coming decades. As long as there is demand and residents with a high enough income to justify those prices, they will not go down.

property taxes means that can still happen

It’ll crash when easy money catches up with people. Most likely triggered by goods market shocks reducing incomes. The problem is nothing will stop it from rapidly rising again.

>problem is nothing will stop it from rapidly rising again
>rapidly rising housing prices after a crash
>a problem

Attached: Haus-Haiderose-und-Villa-Quisisana-an-der-Strandpromenade-Foto-Kurverwaltung-Ostseebad-Binz-645x430. (645x430, 123K)

or like this

Attached: image-969537-galleryV9-crhd-969537.jpg (850x565, 152K)

Point being?

Depends. If you want to live in the city like Amsteram you can afford a big old classic house. If you want to live in nature you can build yourself a mansion.