What's the retarded part? Are you seriously saying real estate in Vancouver and Toronto is fairly valued?
Fair value according to who or what? You throw the term out there and provide nothing to back it up. Ok volpunter, given you live in HK, it's a little ironic you would throw that bolded statement out too. I guess it's that supply and demand thing you keep throwing around.
A pretty illogical post. I stated many times I currently reside in HK. So what? I equally consider HK properties to be out of this world overpriced. Mid market flats here cost around 1.5 - 2 million US dollars. Around 800-1000 square feet, 3 br, crappy old building, around 20-30 years old, paint falling off the walls, badly designed,smelly neighborhoods. Equally a house anywhere in North Vancouver is overvalued by a multiple compared to similar size property in cities elsewhere in North America with a similar distance to downtown. Or take the horrific shag pads everywhere in Richmond that are priced above a mil Canadian. You take the stance that anything the market trades at, is fairly valued. By that definition you should not trade ever because nothing is mispriced. If you dont like me or the way I communicate then I can easily live with that, but don't make it sound as if the message is wrong. Vancouver is hopelessly overpriced, property market wise. If you disbelieve perhaps consult the many comparables and research pieces that place Toronto and Vancouver among the top of the world's most overpriced cities. Vancouver in particular is a peculiar phenomenon because the job market is incredibly poor and average salaries nowhere command housing prices like they are. Most of the property market is propped up by foreign capital, particularly from China. Same as in a shit hole like Christchurch which does not even have enough funds to fix damages from an earthquake many many years ago.
What is amazing is that you can write a whole paragraph and not give any evidence to what fair value is. But hey, having communicated with you before I wouldn't expect you to. Nice trying to divert the conversation by not providing any metrics but plenty of hearsay. If you hate HK that much, why are you still there? Or perhaps you are shacked up in Wanchai with a Filipino wife/domestic helper and can't leave? So short HK and Vancouver RE then and put your money where your mouth is then. I'm sure an ex bank trader like yourself(LOL) still has relationships with desks.
A) I gave it to you, you just seem too thick to grasp it. Fair value is not what a few sellers or purchasers think it is, it is what a multiple of informed observers think the price should be. Same as with other financial assets. If an illiquid stock trades at certain levels that is not fair value, it simply is the value a few buyers and sellers attach to that stock. Fair value is assessed by a majority of people who attach a value to an asset. B) I did not provide hearsay, property valuations of Toronto and Vancouver are assessed by tons of professionals in this space and they all agree. You are the only one who seemingly disagrees. C) I spoke about the HK property market. How you assess from that that I hate HK is outright weird. Anyone who disagrees with property valuations hates that city? You are quite the weirdo. D) Females from the Philippines are called Filipina not Filipino. Filipina is female and Filipino is male. And no, I am happily married to my Japanese wife. This is as far as I go to entertain your curiosity into my personal life. E) Mispriced assets can be mispriced for a long time. That's all I have to say in response to you. I won't entertain any further crap you put out here unless you actually pick up your brain and start conversing based on facts and in a manner worth holding a conversation with you. Just because you are angry because you can't cancel me like you cancel anyone whom you feel offended by does not make your contribution be of any value. Make a case why you think Vancouver property prices are fairly valued and why you think a transaction automatically establishes fair value then we can talk. Otherwise please stop hijacking my thread if all you can utter is personal attacks.
Instead of posting YET another paragraph you could have just provided a link other than more verbal diarrhea about your opinions, which don't amount to much by the way. If you'd like I can post a link, but I don't know if you have the mental capacity to read it. Speaking of weirdos, no I did not mistype. I did mean Filipino, as in male. Thanks cupcake, have you made dinner for the male in the relationship? You can pretend it's a Japanese female, we'll play along. Oooohhh did you get angry? Big @GRULSTMRNN miss her blanky? Need naptime? Last I checked this was Baron's forum. You may have started the thread, I however don't see any rules preventing posting. When you can post actual facts and numbers, I might get civil then.
Unless you are wealthy and like to live in metro areas it's insane to buy any property surrounding GTA (Greater Toronto Area) & GVA (Greater Vancouver Area) at the present. I'd rather to spend 600K to get a decent or brand new detached home with a huge backyard and beautiful lake view from small cities in BC/ON province. You don't have to deal with mean people and crowded traffic.
That is exactly what I will be doing starting in 2 weeks. Traveling to BC to visit several ranches/farms that are up for sale. I trade independently and all I need is electricity and a stable internet connection. I am an avid fly fisherman and eyeball properties in the Terrace, BC region. Once this all works out I would also like to obtain a helicopter license.
Too bad that I'm not in BC right now to meet up with you and show you around a bit. I grew up in Richmond BC. After I met my wife we moved to Kelowna BC since we both enjoyed outdoor activities a lot. Besides, Banff national park is about seven hours driving from Kelowna which is a place we frequently went for camping, canoeing and etc.