hmmmmmmm, sales declining and price supposedly rising? First of all prices aren't rising lately. Penner and Muir are industry spokespeople so I don't get my info from them as they fabricate and twist the available stats. YOY prices are up. Last 6 months they are declining. I know what I see and I talk to realtors and people on the street. Thats what counts not pros. I don't get my info from stats can either. the truth is out there but generally you won't see it in the media until everyone already knows it and you sure won't get truth from the re industry so believe what you want, Vancouver prices will crash just like everywhere else. The loonie at par is just the nail in the coffin. yes you can bring this up a year from now. I have lived here for 35 years and we always trail, not lead, the US. People here are the last to know thanks to Corus / Canwest
BTW I'd buy a used car from a used car salesperson long before I'd buy one from a realtor. Also 've been to quite a few countries and cities around the world and unfortunately Vancouver is by far the ugliest city I've ever seen and I'm obviously not referring to its spectacular physical setting and beauty
There is another popular theory, that rising house prices are partly fuelled by crime. Real estate agents tend to dismiss such talk but business analysts say there may be something to it, noting that B.C.'s illegal marijuana industry is worth $4-billion to $7-billion a year. B.C. pot is grown indoors, often in large houses that serve exclusively as "grow ops." Methamphetamine labs are commonly found in suburban dwellings, as well.
Drug dealers can pay in full with cash. In the event they can't, they sometimes turn to accommodating mortgage brokers to arrange bank loans. Last year, a Vancouver-area broker named Dahn Van Nguyen was sentenced to a year in prison after pleading guilty to six counts of fraud. Over an 18-month period, he wrote 900 phony mortgages worth more than $2-million. According to the RCMP, 10% of the mortgages he arranged were used to purchase houses later "confirmed as grow ops."
canada.com
YYEEEEEEEE HAAWWWWWW....Of interest
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