Chinese account for one-third of all Vancouver home sales volume in 2015.
from My Budget 360
The Canadian housing market makes the U.S. housing bubble seem like a tiny pricing discrepancy. There have been talks for years that Chinese investors were buying up desirable properties around the globe and many pundits pushed these fears aside. Their claim was that only a tiny portion of the market was made up by investors. Well in Vancouver, one-third of all sales in 2015 went to Chinese buyers based on cash volume. That is absolutely not a small group and enough to make home prices in many Canadian cities go into even deeper bubble territory. There is no doubt the Canadian housing market is deep in a bubble. The middle class in America now realize that owning a home is a pipe dream given stagnant incomes. Do you want to own a home? Too bad. You are too broke unless you go into big debt and become a slave to our banking overlords. In Canada, local households have zero chance of competing in places like Vancouver unless they go into comedic levels of debt. How big is the Canadian real estate bubble?