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James Wong Personal Real Estate Corporation
Attended University of Malaya
Lives in Richmond, British Columbia
124 followers|16,367 views


Popping The Vancouver Housing Bubble

With such huge run-up in home prices in Vancouver, the bursting of the housing bubble will cause terrible carnage to the lives of homeowners who are heavily indebted.
Young Canadians complain that stratospheric real estate prices are putting home ownership out of reach. But even as governments begin to tabulate the impact of foreign buyers in Canada's largest cities, they are terrified that any move to pop the bubble will cause a serious economic backlash.
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Vancouver Housing Market Is Insanely Expensive

Curbing demand for second home ownership by implementing restrictive lending and higher taxes for second homes would help to discourage owning real estate as investment rather than shelter for the residents.
It's only in this market, with it's unfettered influx of foreign bags of cash that this can happen. If our market was not in overdrive, we would not see such a flagrant waste of a perfectly good home and that's the thing that people are most upset about.
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8 Reasons For Crazy Vancouver Home Prices

Vancouver’s real estate market is messed up. It’s really messed up. As a result it’s attracted a lot of attention. From media reports, to provincial scrutiny, to self-regulatory board actions, Canada’s most expensive real estate market is under the proverbial microscope. But what do we know for sure? Here’s a round-up of eight factors that are helping to push prices through the stratosphere in Vancouver and the lower mainland.

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Just a few and it could be considered a perfect storm, but the Vancouver real estate market faces eight mitigating factors that help to push prices up.
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Great looking font for free download
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China is buying Canada: Inside the new real estate frenzy

"In the past five years, the flow of money from mainland China into Canadian real estate has reached what many consider dangerous levels, contributing to a gold-rush atmosphere in the nation’s leading cities, while stirring anger among young, middle-class Canadians who feel shut out of their hometown markets."
And these Chinese real estate investors are moving well beyond Vancouver
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Solution For Affordable Housing For Vancouver

Increase supply and implement policy measures to curb speculative demand and second home ownership will help solve the problem.

"We need more supply of housing options of every type in every neighbourhood. There’s many ways to do that. None are painless, but that’s what we need to do".

Adopting policy measures to curb second home ownership can drastically help to reduce demand for homes for investment.
Reliance Properties president and CEO Jon Stovell on Thursday was named chair of the Urban Development Institute (Pacific Region), a national association of the development industry with over 650 c…
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'Unprecedented surge of demand'

"The price increases are, not surprisingly, driven by a strong demand with not much supply".

For Sellers, this is the best time to sell if you have been thinking of selling. For Buyers, it is time to be prudent and ponder whether you should wait . The market may be getting ahead of itself.
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The insanity, it seems, is not over. Despite ongoing warnings from the CMHC that Vancouver real estate is overvalued, house prices keep climbing.
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Home Ownership And Family Wealth

Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts and investment & market strategists every quarter. According to their latest survey, here is how much value that $250,000 house will gain in the coming years. Over a five-year period, that homeowner can build their home equity to over $40,000. And, in many cases, home equity is large portion of a family’s overall net worth.
As the economy continues to improve, more and more Americans are seeing their personal financial situations also improving. Instead of just getting by, many are now beginning to save and find other ways to build their net worth. One way to dramatically increase their family wealth is through the acq
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Complaints On Vancouver Homes Sold By Assignments

As part of an ongoing investigation into the phenomenon, The Globe and Mail examined scores of transactions and hundreds of records, and spoke with more than a dozen real estate agents and observers to understand the role of assignments in the Vancouver market. Assignment sales happened when feverish real estate prices triggered a frenzy of buying and selling.

Middlemen using 'assignment clause' as loophole to maximize profits on houses they are flipping
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Vancouver homes can be used to launder money

In addition to Fintrac’s findings, The Province and other media have uncovered cases showing that realtors, unlicensed brokers and circles of investors are involved in shady flip deals which can allow investors to launder money and dodge taxes while insider agents score excessive fees and rip off clueless sellers.

Experts say that money laundering, fraud and tax evasion in B.C.’s speculative real estate market could be impossible to tackle unless agency information silos are broken and enforcement is i…
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Vancouver Is Hollowing Out!

"Vancouver is getting hollowed out. We’ve become this one-industry town. We’re becoming more and more akin to a resort community. We’re becoming a place where people come to retire, to go to school, to go on holidays, but not to live and to earn an income that can afford housing here".

"The fact that we’ve got such low levels of income demonstrate that. We should not be a city that has the highest levels of wealth in Canada and some of the lowest incomes. That’s just not right."

A MacCleans interview with Ian Young.
A Q&A with the Vancouver correspondent for the South China Morning Post, a keen observer of the city's housing market and its unaffordability crisis
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Unaffordable Vancouver Housing - Drastic Policy Measures Required

The problem is demand out-stripped supply and not policy restricting second home ownership. Tax measures discouraging second home ownership will help to address the problem of high housing prices.
The Canadian and British Columbia governments are complicit in fuelling Vancouver's housing crisis as foreign Chinese buyers continue to shut local residents out of the market, a new study says.
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James Wong's Collections
  • University of Malaya
    B. Agric. Science
  • Sundridge Management Centre
    General Management
Basic Information
Other names
James Wong
Real Estate Career: Living A Balanced Life
Entrepreneur/Strategic Thinker/Realtor - Vancouver, Fraser Valley & Chilliwack.

Living a meaningful life is about having the right perspective by thinking first about the life you want to live and then about the job and career which fits into that life and can support it financially. If you are strategic about your decisions, you can put your life before your job and career.

Happiness has less to do with money than we might imagine, and more to do with the people around us, how we live our lives, the way we spend our time, and how we perceive ourselves and understand our life experiences.

Bragging rights
25 years experience in real estate sales, investment and making frriend.
Real estate trading services, investing, real estate marketing online
Real estate sales, marketing, Internet marketing, SEO, niche marketing
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Richmond, British Columbia
James Wong Personal Real Estate Corporation's +1's are the things they like, agree with, or want to recommend.
The real estate technique fuelling Vancouver's housing market - The Glob...

Middlemen using 'assignment clause' as loophole to maximize profits on houses they are flipping

“Strong Evidence of Overvaluation” in Metro Vancouver Housing Market: CMHC

Housing agency changes tune on Vancouver prices, while arguing that “weak evidence” of other market risk factors reduces the likelihood of a

Chinese investment in Canadian real estate set to increase in 2016 - The...

Slumping Chinese economy, stock market seen as causes for growing interest in safe-haven properties in cities such as Vancouver

Anger fuels call for action on red-hot housing market as hundreds pack V...

Anger and frustration were common explanations people gave for their attendance at an emergency housing forum held Wednesday in Vancouver. M

Hot housing in Vancouver rippling across the rest of B.C. - The Globe an...

Escalating prices from increased demand are now displacing buyers far to the east and west of the city

Even luxury listings don’t last in Vancouver’s hot housing market - The ...

Elite-end transactions contributed to the highest number of sales ever recorded for any month in Greater Vancouver

Vancouver and BC Home Price Rises to Continue Through 2018: Central 1

2016’s real estate market already outperforming predictions, and there are no signs of a downturn, reports credit union

Vancouver’s View Cones a “Questionable Extravagance,” says Developer

Downtown Vancouver is far from built out, but the city may have to sacrifice specific viewpoints in favour of density and affordability, arg

Multiple Offers: How to Get Your Offer Accepted

Multiple Offers have been pretty common in this current market – good properties are seeing more than one Buyer submit an offer for the Sell

Ask The Expert: How Can We Get Multiple Bids On Our Property?

There’s a foolproof nine-step process to making the most of Vancouver’s super-hot sellers’ market. Barry Magee outlines the steps

Vancouver firm offers a one-stop real estate shop for Chinese investors ...

Macdonald Realty’s Shanghai branch office opens new investment doors.

Demolition for century old Vancouver home worth $2.498 million in 2012

The craftsman house at 3937 West 31st was marketed as a dream home when it went up for sale in 2012. “You’ve admired it — now it can be your

Is Something Blowing Up In OIL? | Zero Hedge

A week ago we warned of some insane movements and mysterious bid in OIL (the Barclays iPath oil tracking ETN) as it traded a stunning 36% ri

Vancouver’s ‘housing bubble’ shows no signs of bursting

The people behind the latest Teranet-National Bank House Price Index believe that the continuing rise in real estate prices in both Vancouve

Vancouver real estate prices up an eye-popping 18 per cent over 2014 | B...

THE#BCBIZDAILY Plus, a potential treatment for prostate cancer at UBC garners the university $142 million and the mayors ask for more contro

Vancouver’s real estate boom: The rising price of ‘heaven’

The influx of millionaires from Mainland China has led to skyrocketing property values and created a growing affordability problem

Editorial: Recommended Fix to Property Transfer Tax a Huge Boon for Buyers

If Victoria heeds BCREA’s advice, purchase tax on condos and low-cost homes could plummet

Ask the Expert: Should We Hire a Chinese Agent to List Our Home?

With so much interest from Chinese buyers in single-family Vancouver homes, local agent Barry Magee explains whether it’s worth listing with

Home Sales Across BC Up 34.5% in 2015’s Super-November: BCREA

With transactions and average prices both rising, sales dollar volume is up 56.4 per cent year over year, says association