- Joined
- Dec 16, 2008
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The growth in Chinese GDP is significantly linked with the Canadian (and Vancouver in particular) housing market. Growth in China determines growth in Vancouver housing. But with China in the biggest property bubble the world has ever seen--entire cities empty, because of excessive over-supply, we can certainly expect that when the Chinese property bubble pops, Vancouver will follow in tandem. It hasn't been shown that overseas Chinese investors are responsible for the Vancouver property bubble, but definitely growth in the Chinese economy spills over into the Vancouver real estate market, as Chinese immigrants make up the majority of our population. Combined with low interest rates, and a socialized mortgage market, Vancouver has been pushed into one of the largest housing bubbles in the world!