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My Friend Flew to Arizona for Investment Advice — He Couldn't Believe This!

1,171 views · Published 8 August 2016 · 5:25 · Indexed 1 November 2026

Channel: Mike Martins · 2016 · News & Politics

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Here’s a crazy story from the Vancouver housing market.

A friend of mine, who I'll call Travis, decided he wanted to learn more about investing. He saw an investment seminar advertised and figured he needed to get out there, meet people, learn about stocks and investments, and hear from people who supposedly knew where the opportunities were.

There was just one problem: the seminar was in Arizona.

So Travis flew from Vancouver all the way down to Arizona, paid for his hotel, paid roughly $400 for the seminar, and spent an entire weekend expecting to learn about stocks, businesses and different investment opportunities.

Instead, according to him, they spent the seminar talking about one thing:

Vancouver real estate.

Think about that. He left Vancouver and flew all the way to Arizona, only to be told that Vancouver's housing market was supposedly one of the places investors couldn't afford to miss.

They were showing charts of Vancouver real estate prices and talking about how much money had already been made in the market. But Travis actually lived in Vancouver. He knew what housing prices looked like on the ground, and he was already worried about how overheated things had become.

Then he asked a very important question.

British Columbia was preparing to introduce a 15% additional property transfer tax on foreign buyers in Metro Vancouver. What would that do to this supposedly can't-lose investment?

The tax took effect on August 2, 2016.

Now I'm watching what happens next. I'm already seeing more For Sale signs, and I'm watching areas farther outside Vancouver, including places toward Chilliwack and the Fraser Valley.

Was Vancouver housing really such a great investment at these prices? Or had the market become so popular that people thousands of kilometres away were being sold the Vancouver real-estate dream?

Let me know what you think.

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