A bidding war recently got some homeowners in Vancouver a lot more than they were asking. Not surprising to learn that the highest bidder was from China.
Two questions that are increasingly being asked, mostly behind the scenes, are:
- Where’s all this money coming from?
- Is it all entirely legitimate?
Don’t ask too loudly though, lest you be called a racist. Furthermore, most homeowners don’t want such questions asked because it means more $$$ for them. One wonders though, 20 years from now, how the majority of British Columbians will feel about how a huge amount of their province’s property being owned by foreign nationals with little to no connection to Canada’s culture and heritage.
Historians will be bemused to reflect on how simply and easily so many British Columbians were bought off with relative ease. Al Capone would be jealous.
h/t Marc in Calgary
Simple, really. When we eventually enter into an armed conflict with China, we confiscate Chinese assets, both privately and government owned, and liquidate their holdings of all types.
Nope… it’s Canada after generations of emasculating it’s males. In a war with China we would basically prostrate ourselves in front of them and hope the Americans can fend them off. Because we once mistreated the Japanese during a World War.
“One wonders though, 20 years from now, how the majority of British Columbians will feel about how a huge amount of their province’s property being owned by foreign nationals with little to no connection to Canada’s culture and heritage.”
Well, they could give a shit about those that actually move here and have “little to no connection to Canada’s culture and heritage” and are forcing Canada to adapt to them, so why would they care if they’re getting a boat load of money in the process?
I can’t wait for these billionaire Chinese nationals to deal with BC’s First Nations land claims.
Apparently Canadian passports are still for sale in return for $1.25 million worth of investment. A sketchy development in our town will be financed by selling passports to Chinese in this manner.
Better to have immigrants with money than the many who abuse our generous social services…..without investment or having paid taxes.
The bonus is that the former are less likely to shoot up the place…
Do we really think that capital gains taxes are paid on any foreign owned properties when they are sold. I can’t believe that Vancouver hasn’t had a housing crash. The white burger flippers can’t afford to live there. Why haven’t they all left?
So…
Housing prices are booming because of money from China. Don’t ask where it’s coming from – that would be bad.
20 years from now, when the market crashes, and all these folks from China lose all that wealth – that’s going to be Canada’s fault, too.
No, we’re not being set up at all…..
Money laundering is part of it.
Most Vancouverites I know are stick and tired of the Chinese buying up everything in Vancouver, but are too nervous to say anything less they be called racist.
You can thank Trudeau for that.
Thirty years ago Vancouver was a great place, now it is just a Chinese city pretending to be a Canadian city.
China will never invade Canada or USA. for the exact reasons being talked about. They own the buildings the roads the houses the stores….why blow them all up?
What they will do is the same as the Muslims out breed us in our own countries. They pay Chinese Canadians to have kids here. Same as the Muslims. They are paid by Saudis to have kids and spread Islam in western nations. as well they claim welfare from us too so the money from Saudi is not traceable they live better than we do in Canada while we pay them our taxes to out breed us and kill us.
Just a question how many abortions do Muslims have?
How many abortions do Chinese Canadians have if its a boy?
How many abortions did Canadians have last year? 110k !
We are finished. short of whites having polyamory 4 wives and having 4 kids a year white ppl are done and western white nations are finished 150 million Nigerians living in nigeria how many white people live there? so probably 98% black Nigerian.
Zimbabwe, ect ect. how many Chinese in china? 1.2 billion? how many whites are there? probably 98% Chinese.
In Canada ,Sweden ,Britain,Norway,Finland,USA, any country that is/was majority white was simply not allowed. why? if Belgium said no more they would be labelled racist and all of these things and immigration is FORCED in white countries again why?
Why are white countries not allowed to be white?
Why is it only christian countries are forced to immigrate ? ect ect…
The cultural marxist agenda is well under way to extinguish the white man. Why ? i just simply don’t get it. our societies are being corrupted our kids are over sexed and under educated (dumbed down) and yes i know the Marxist professors are over educating our university students at the same time.
Why? is my question. what for? who benefits? Is it to kill off those who would fight back against tyranny? for the one world gov?
The BC government profits from every real estate transaction through its Property Transfer Tax – 2% on first $100K and 1% on remaining, all based on “fair market value”. Talk about a cash cow!
Got no problem selling. I have done it and benefited and moved way out to the suburbs.
What’s so great about granola vancouver? Concentrated lefties. They can keep the bike lanes, the backyard chickens, the pride parades, the traffic.
Boo hoo to the empty apartments. Would they prefer to have all the apartments occupied and all the extra neighbors?
A life long best friend who is a lawyer has been helping the Chinese buy into Vancouver for decades. His observations are probably worth considering. He says straight up that the wealthy Chinese are very afraid that the reforms which allowed them to succeed are in serious jeopardy. A new radical younger generation who still venerate Mao and have not enjoyed the benefits of reform are poised like a dagger at the heart of the current regime. Many older Chinese remember the Cultural revolution. If you have the funds to purchase a get away retreat you invest them “somewhere safe”. That is Vancouver. As much as I dislike Vancouver (as a middle class guy) perhaps my opinion would be different if I were rich, as my friend has become (and he wouldn’t live anywhere else). Bottom line is; there are a billion or so PRC proles who are looking back and remembering that if everyone has nothing everyone is equal. It’s 50/50 whether reforms continue, or it all comes down in a coup. On the plus side, the majority of those arriving and buying are hard core entrepreneurs and business people. Personally I don’t care for their clannish ways, but its not like they are breaking any laws by sticking together…like all the other large immigrant groups (English/Scottish included at one time).
Only 16 years to go before whites lose their city to immigrants, most of whom have no cultural connection to Canadian heritage.
http://www.vancouversun.com/technology/Whites+become+minority+Metro+Vancouver+2031/8175821/story.html
LOL! And I thought most visitors to this site were pro capitalist and libertarian. Just goes to show how thin that veneer really is.
you have it backward Finn, the tax is more regressive than that.
1% on the first 100k, then 2% for the amount over. Instituted when the average BC home price was a little over $100k. Never changed since, by either the Commie Dips, or the Fiberals.
As far as the rise in City of Van prices? Who cares, get out, its usually the poverty pimps screaming about this issue. Move out, to more pleasant surroundings than Mayor Moonbat’s carless utopia. Lots of good places to live on the mainland, without the leftard neighbours of Vancouver proper, the congestion, the taxes and the gangs.
Yawn.
Peter has it right. The wealthy chinese are buying bolt-holes and safe havens for themselves and their children outside China. Many of them lived through the Cultural Revolution. Too many saw their parents, grandparents, aunts and uncles or their friends imprisoned or killed.
They do not want that to happen again. But the only way they can prevent that from happening to their families is to have an escape plan.
Escape To Vancouver. Or London, Paris and a dozen other cities outside Beijing’s reach.
Love it. Bring your $ to Canada. Better than capital flight. Cant believe the racist anticapitalist comments here. Well actually I can. Buncha old dinosaur twits. Glad you are being outbred.
Take a look at the following blog entry (written by a Chinese immigrant himself, so don’t even think about playing the race card here)so you can have a better understanding of the sad situation we are living in Vancouver, pay attention to the two studies mentioned:
“Among the evidence are the correlational studies done by UBC professor David Ley, who literally wrote the book on the subject, Millionaire Migrants (2010). Ley found a ridiculously close +0.94 correlation between foreign migration to Vancouver and property prices over a 25-year period. “There are interest groups who are in denial [about the role of foreign money] and the moment that you or I make a suggestion we are immediately racist and this is how the discussion has been closed down,” Ley told me in March.”
http://www.scmp.com/comment/blogs/article/1525043/vancouver-real-estate-cheerleader-crying-racist-dont-bother-kow-towing