China housing bubble in Canada could create the next financial crash

Posted by Commodity Online

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China is loading on real estate. Except that the purchase is not in China but in Vancouver, Canada. And the Chinese demand for a piece of land is so huge that customers are willing to pay more than the market rate for a property.

-The prices have gone so high that Canadian nationals seeking job in Vancouver are finding it hard to find an affordable home. The median real-estate prices in Vancouver are 9.5 times median household income as per Demographia, a property survey.