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Updated over 9 years ago,
#GiveUsData, or #NotSoMuch
Hello BP -
I saw an interesting article recently about all of the dark money flowing into Vancouver BC. It's China's ruling party, exporting their (super clean) cash and parking it in Vancouver sfr's. It's superheating the market, apparently adding a 300k premium to a lot of houses - and a lot of folks are getting pisseded.
A Vancouver local tweeted #DontHave1Million and it went viral. This week she led a group demanding data from the local government - apparently a lot of data was not available. They pumped up #GiveUsData and marched on the library - this is where the photo was taken.
Aside from the issue of whether obtaining local data can stop an rmb tsunami, it's an issue that's important, esp to REI folks. Sales data, mortgage data and more is apparently not available in Canada... yet this is the data we all rely upon so much to remain informed at a very basic level. Right?
I once had occasion to call an assessor's office in a state that did not disclose historical sales data. As I hung up the phone, I remember thinking that I would never invest anywhere there was a lack of market transparency. It simply does not make sense - even if your valuations are all commercial, and not based on sales comps.
So, BP - are you more like the people holding the signs, or more like the guy in the hat?
Just looking, thanks.