Sadly, its going to amount to a lot very soon.

Nation of growing kids in backyard shreds.

https://www.washingtonpost.com/outlook/2018/09/20/hong-kong-is-being-hit-hard-by-weather-politics/

Globalization changes everything. Auckland, Sydney, Copenhagen, Stockholm and Vancouver are really, really nice places compared to 99.99% of the world. Just because our local politicians are not appropriately valuing real property here, doesn’t mean the rest of the world isn’t.

Here’s an example of a tiny 1/2 duplex in a busy part of East Van that sold this week over ask, for nearly $1,500,000:

https://bcres.paragonrels.com/publink/default.aspx?GUID=5e11531e-9c08-4ea1-94ce-c94294fc78f8&Report=Yes

That property, and that selling price are totally disconnected from wages in Vancouver. No correlation whatsoever. It is all about globalization, the injection of concentrated global wealth into the local economy and the effects of marginal demand.

Hi Bob, I think you’re new…I’ll leave the ‘RE wealth’ alone because that’s just a silly comment…ahh heck, here we go…#1 it is equity not wealth, until someone cashes out and the greaterfool takes it on all you have are numbers on a page. There is zero value to an asset until someone else buys it; that is the truth. It may be stripped down to the inputs or the entire thing may be worthless…anyone buying $50 pogs or beenie babies anymore? I’m personally sitting on over $1M in fidget spinners, mad spinner rich bro but the weird thing is I can’t sell them…hmmm, weird right?
#2 sure increasing debt loads by leveraging an asset is all hunky dory until, well the asset value drops which is essentially where we are headed. In the middle of a dead cat but if you think there won’t be a freak out come Spring (remember rate increases…central banks don’t care about stupid apes being stupid, heck trump is doing everything he can to influence the FED and JP is telling him to suck a ‘toadstool’). Soooo, while I like you bob, I’ve always liked the name bob because it is fun but can also be serious and command respect, I can’t take your comment seriously. Oh and BC is shit slurry of bad money, wonder how it kept on going but then suddenly took a dive faster than TO? I didn’t. Tick tock. BD Nation. BD4L.

. . . or if they reach the HELOC’s limit and no more “supplemental income”. Living for free and beyond means is what the system have created.

In B.C. over the last few years, real estate wealth has grown much, much, much faster than GDP. So a little increased borrowing against it won’t amount to much.

Lol, this is fake news bud. You’re new so consider my response a pass. This is BD nation. BD4L.

A business with less than 5 years of credit history will almost always have to owner pledge their collateral. Those are important years where you would need a loan, so it’s really not all that strange.

You would have to flip on the business, and not find another way to pay off the personal liability. There’s a much bigger buffer than with personal loans.