huge corrections under way, guarantee this is not the end, just the beginning.
unicorn slaughter.
upside: expect house prices in the SF bay area to become more affordable.
unicorn slaughter.
upside: expect house prices in the SF bay area to become more affordable.
Until the Chinese peg falls, I don't think you can. I mean, aren't SF house prices driver by Chinese investors about as much as by domestic Twitter millionaires?
It's not foreign buyers driving up the market in Vancouver, it's Canadians will to put themselves into serious debt in order to buy a house.
Victoria isn't that far from Vancouver, but prices have gone through the roof, similar to what Vancouver has experienced.
You get echo effects from places like Vancouver. Wealthy foreign buyers use high end real estate as a bank account increase the prices of top of the line housing significantly. Wealthier natives (Dentists?), now priced out of the highest end go down the scale and start purchasing lower end stuff with more money, increasing the price for everyone in a domino effect.
Government, not wanting the housing market to go down, create laws to allow subprime mortgage lending and buyers buy houses without real limits on price, and the middle class can now keep up with the price boom.
"In a recent six-month period about 70 per cent of all
detached homes sold on Vancouver’s west side were
purchased by Mainland China buyers..."
That's like doing the same study in Boston and claiming foreigner buyers from Ireland own 50% of Boston homes!
Tableau is not, LinkedIn P/E is north of 1000.
But being profitable, that is just crazy talk.