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I Found a Vancouver House Under $1 Million… IT’S A TEARDOWN! Chinese Money Laundering

630 views · Published 11 April 2016 · 1:18 · Indexed 10 November 2026

Channel: Mike Martins · 2016 · News & Politics

Back in Vancouver, I finally found what sounds like the impossible — a house for under $1 million!

There’s just one problem: look at the house.

In this video, I stop by a Vancouver property that sold for roughly $980,000, despite being boarded up and essentially in teardown condition. This isn’t somebody buying a beautiful move-in-ready family home. The property needs enormous work, and the real story appears to be the value of the land and the redevelopment happening throughout the city.

And that’s exactly what I’ve been talking about on this channel.

When properties approaching $1 million are being valued for what can be demolished and built on the land rather than for the house itself, Vancouver’s housing market has entered completely different territory.

I’m filming this as it happens because people outside Vancouver sometimes have a hard time believing the prices we’re seeing here.

Nearly ONE MILLION DOLLARS — and you may still have to tear the house down!

What do you think? Would you ever pay this kind of money for a property requiring this much work? Where do you think Vancouver housing prices go from here?

#vancouver  #vancouverhousing  #realestate  #housingbubble  #vancouverrealestate  #housingmarket  #canadarealestate  #milliondollarhomes  #realestatebubble  #mikemartins

I Found a Vancouver House Under $1 Million… IT’S A TEARDOWN! Chinese Money Laundering

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