Vancouver Real Estate and the Asian Effect
The Asian (mainland Chinese) buyer is very prevalent here in Vancouver and this buying group is responsible for a good share of the overall market for more reasons than just the properties that they are buying (direct demand), but also for two indirect areas that are arguable the strongly economically speaking. First, the sellers that are released from their homes are a large secondary demand group created by this influx of money, and secondly, is the indirect economic affect of a "BOOM" mentality that is created in the market as a whole as a result of these buying groups. It the economy, the old adage of "Build it and he will come" is a very true sentiment. If enough of the market believes that the market is booming then buyers behave that way and actually bring it about.
