by Wolf Richter
The hunt is on for Chinese buyers.
For investors, Vancouver real estate has been a heavenly gift. But now, suddenly, some of the biggest institutional investors, including Canada’s third largest pension fund, are getting cold feet and want out.
Just over the past 12 months, the “benchmark price” soared 27% for apartments and 38% for detached houses! The term “housing bubble” doesn’t even do it justice.