Dear Bosco, Toronto[and Kanada in general] markets were not bid up by the HK immigrants after the Tiananmen square. HK immigrants only bid up a small area of Scarborough. Scarborough is a big city, it stretch from kingston Rd. to all the way to steele. The HK-bro bid up only a small part of Scarborough, location like agincourt that is near the North Scarborough area. Danforth Ave is predominantly a Greek neighborhood, Dufferin/St.Clair is predominantly a Italian neighborhood, Bathurst st or bayview ave/ a Jewish neighborhood and so on. The Real estate price went up is not because of the chinese money. The market went up because there's a speculation going on like what we have now with stocks. Speculation were going on in every city like North York, Scarborough, Toronto, Etobicoke, and etc. 1989 was the peak year, something like a small scarborough bungalow can fetch as much as $260,000. Now the same bungalow in the same location only list for $170,000. That's what I call riches to rags.
The only place that was actually bid up by the HK immigrants was in Vancouver, not in Toronto. I agree with you on the US RE markets. |
