- Here’s something a little different: A home in the Vancouver suburb of Coquitlam is on sale on Craigslist.
- The house is described as “new” in the ad and looks unlived-in in the pictures provided.The ad appears on the Vancouver and Hong Kong real estate pages of Craigslist.
- Vancouver’s housing market has seen considerable cooling over the past year.
- Home sales have fallen for much of the past year; nearly half the money flowing through the market has vanished; and price growth has stalled.But if this ad is an indicator of anything, it’s that foreign buyers are still playing in Vancouver’s housing market — they’re just doing it more on the sly now.China has been cracking down on cash outflows from its economy.
- Some 98 per cent of bitcoin transactions had taken place in China recently, the Financial Times reported.So… a Vancouver house with an unidentified seller, seemingly unoccupied, posted for sale in Hong Kong and asking for payment in cryptocurrency … you put the pieces together.And if you’re planning to buy a house in Vancouver, you may want to stock up on some bitcoin first.Coming Soon: The Home StretchOur weekly newsletter delivers the news and analysis you need on Canada’s housing market.
If you’re planning to buy a house in Vancouver, you may want to stock up on some bitcoin.
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