China capital outflows - (money leaving the country) is estimated to have reached 1 TRILLION in 2015.
That is almost 7 times the amount recorded in the year prior. If you've been watching the Vancouver real estate market you've seen a good chunk of it landing here. Of course there are other buyers but the main price driver has been the indiscriminate buying of primarily detached homes in the most desired neighborhoods. The spill over effect has lifted prices in surrounding communities and almost created panic buying in many that fear home ownership is a fleeting opportunity.
There are some recent signs the supply demand part of the equation are finally headed a little bit more towards balanced after the extreme overbought conditions