Most Chinese investors don’t buy lavish $18 million mansions, preferring 'more discreet' homes and transactions in B.C.’s Lower Mainland
“There’s the show side of real estate, the trophy homes. But look at Burnaby, look at Richmond, look at West Vancouver and an increasing number of Chinese families buying into those markets.”
"They're not coming in to speculate, throwing money at things. They're not trying to flip. They probably flip less than anybody."
"In the face of the cooling B.C. market, my clients are not liquidating anything and are very bullish in the long term.”
This one/two punch has Vancouver real estate on it's knees.
Hence the efforts to re-assure that HAM has not left.
This becomes especially important as locals watch as the economic situation in China becomes more desperate by the day. Many are wondering if the ability of Chinese to invest excess capital here is rapidly vanishing - with good reason.
"They will be insolvent either selling the houses or holding them."
"Due to rising borrowing costs and the continuous decline in home prices, Wenzhou's speculators can hardly avoid insolvency."
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