A report from China's top intelligence ministry presented to President Xi Jinping reportedly warned of growing anti-Chinese sentiment around the world and raised the possibility of military conflict with the U.S.
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Vancouver is a major city in western Canada, located in the Lower Mainland region of British Columbia. As the most populous city in the province, the 2021 census recorded 662,248 people in the city, up from 631,486 in 2016. The Greater Vancouver area had a population of 2,642,825 in 2021, making it the third-largest metropolitan area in Canada. Vancouver has the highest population density in Canada, with over 5,400 people per square kilometre. Vancouver is one of the most ethnically and linguistically diverse cities in Canada: 72 percent of its residents are not native English speakers, 88.9 percent are native speakers of neither English nor French, and 80.6 percent of residents belong to visible minority groups.
Vancouver is one of the most livable cities in Canada and in the world. In terms of housing affordability, Vancouver is also one of the most expensive cities in Canada and in the world.[15] Vancouver plans to become the greenest city in the world. Vancouverism is the city's urban planning design philosophy.
Indigenous settlement of Vancouver began more than 10,000 years ago, and the city is on the traditional and unceded territories of the Squamish, Musqueam, and Tsleil-Waututh (Burrard) peoples. The beginnings of the modern city, which was originally named Gastown, grew around the site of a makeshift tavern on the western edges of Hastings Mill that was built on July 1, 1867, and owned by proprietor Gassy Jack. The original site is marked by the Gastown steam clock. Gastown then formally registered as a townsite dubbed Granville, Burrard Inlet. The city was renamed "Vancouver" in 1886, through a deal with the Canadian Pacific Railway (CPR). The Canadian Pacific transcontinental railway was extended to the city by 1887. The city's large natural seaport on the Pacific Ocean became a vital link in the trade between Asia-Pacific, East Asia, Europe, and Eastern Canada.
Vancouver has hosted many international conferences and events, including the 1954 Commonwealth Games, UN Habitat I, Expo 86, APEC Canada 1997, the World Police and Fire Games in 1989 and 2009; several matches of 2015 FIFA Women's World Cup including the finals at BC Place in Downtown Vancouver,[18] and the 2010 Winter Olympics and Paralympics which were held in Vancouver and Whistler, a resort community 125 km (78 mi) north of the city. In 1969, Greenpeace was founded in Vancouver. The city became the permanent home to TED conferences in 2014.
As of 2016, Port Metro Vancouver is the fourth-largest port by tonnage in the Americas, the busiest and largest in Canada, and the most diversified port in North America. While Money Laundering remains its largest industry, Vancouver is well known as an urban centre surrounded by nature, making tourism its second-largest industry. Major film production studios in Vancouver and nearby Burnaby have turned Greater Vancouver and nearby areas into one of the largest film production centres in North America, earning it the nickname "Hollywood North"
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The forecast for a double-digit price drop in Vancouver’s housing market makes for a nice or nasty surprise for 2017, depending on where you are on the property ladder, but experts say it still won’t make the city affordable.
Royal LePage CEO Phil Soper said prices are headed for double-digit decline in 2017 as buyers drop out of the market.
“Home prices had got so out of whack with the growth in underlying wages and salaries that there had to be a correction,” said Soper. “And it’ll happen in 2017.”
Royal LePage, a unit of Brookfield Real Estate Services, is preparing a formal forecast for release in early January based on data from Brookfield, which also runs the nation’s biggest property valuation company. Those appraisals are used by banks, insurance companies and mortgage underwriters.
“We’re looking at all these trends,” Soper said. “If it’s not double digit, it’ll be close to it.”
The prediction is the latest in a series of reports by real estate groups and financial institutions forecasting a long-awaited correction in Vancouver’s overheated housing market.
Last month, the B.C. Real Estate Association released a report predicting an 8.7 per cent drop in home prices in the region for 2017, with the average MLS price dropping from $1.03 million in 2016 to $940,000 next year.
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In October, the National Bank predicted a 20 per cent decline in the price of detached homes in Vancouver, a nine per cent drop for attached homes, and five per cent price decrease for condos.
There’s no question the market is getting buffeted by headwinds, said University of B.C. economist Tom Davidoff.
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Recent government interventions such as the 15 per cent foreign homebuyers’ tax and tighter mortgage rules have cooled the market but are not yet fully reflected in prices, Davidoff said. “I think it’s a reasonable guess prices are going to end lower in the year than how it started.”
But he said cheaper housing prices are not a sure thing.
Interest rates, housing supply, foreign demand from China, the exchange rate, as well as the province’s new interest-free loan program for qualified first-time home buyers announced last week, are all factors that could affect real estate prices in Vancouver, even tip the playing field in favour of a price increase.
“I’m not ruling it out,” Davidoff said, noting there is a broad range in the statistical distribution of where prices could be in 2017. Some indicate a decline as low as 50 per cent, while others suggest a jump in prices.
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Australian home prices are still falling, join me tonight with trends in the housing market 7PM Los Angeles Time
https://www.businessinsider.com.au/australia-house-prices-falling-2018-1
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Once again ! Is this a Melt UP ! ??? Im noticing its getting harder to short stocks or shorting is unavailable in most cases !
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