Vancouver

In the past several months we have dedicated numerous articles to demonstrate the sheer lunacy of the Vancouver real estate market with isolated cases in which Vancouver houses, whether abandoned or in phenomenal shape, would sell for millions of dollars above asking just because Chinese buyers would pay any price in their rush evade capital controls and launder cash in northeast Canadian real estate. Perhaps the most egregious example took place two weeks ago when we wrote "Valued At $16 It Sold For $68 Million "In 7200 Seconds" - The Inside Story Of Vancouver's Wildest Property Deal."

For the past four months we have been closely following the sheer bubble panic, if not outright insanity, that has gripped the Vancouver housing market (here, here, here, here, here and many more) which has been over the past year, converted into the personal offshore piggybank of wealthy Chinese oligarchs seeking to park laundered money outside of their home nation. On the way, the story took an odd detour into the outright bizarre when we reported the curious story of the Chinese tycoon found "chopped up into 100 pieces" in a Vancouver mansion.

Over the past several months we have repeatedly noted a recurring peculiarity of the Vancouver housing bubble: there are numerous multi-million dollar mansions, which rot, abandoned, their owners having long ago disappeared.

Two months ago, we first postulated the hypothetical timeline that starts with the purchase of a Vancouver mansion

Two days ago we introduced you to "the rich kids of Vancouver" for whom the most important decision in any given day is whether to spend half a million dollars on a new Lamborghini or on an investment such as "two expensive watches or some diamonds."

From left, Loretta Lai, Chelsea Jiang and Diana Wang attended a receptionat a Lamborghini dealership last month in Vancouver, British Columbia

By now, the only people in the world who are not aware that Vancouver has been overrun by Chinese "hot money-parking" oligarchs, who rush to buy any and every available real estate leading to such grotesque charts as the following showing the ridiculous surge in Vancouver real estate prices...