someone on the other thread said to that banning foreign ownership would bring prices down to match local incomes.
Well then they will raise interest rates for sure to make up for the loss revenue.
no matter what they average joe/jane is screwed.
i think our country is desperate for revenue.
it seems a free or at least easy ride is never an option. someone has to profit.
that's capitalism folks. those who has the most chips wins and can bully his way around.
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Re: 70% of MetroVan houses sold went to mainland china buyer
The best. I know lots of locals (sellers) cry " what can I do for my retirement with so much money in my hands"?i don't see anything wrong with this. those "white" people that sold their houses i'm sure are happy. It's caucasian people, "white" is a fabricated charicature. Kind of like over exaggerated movie role based on false heroics.Give this 5 more years & there will be no more white people in West Van either.
last i heard people are allowed to buy vacation homes. do canadians not buy in mexico, palm spring, arizona, vegas? Maybe those doctors should have started a business in addition to their medical service then they would have made extra money. Doctors can now live in South surrey, Langley or somewhere else. no worries.Remember every time an off shore millionaire buy a house in Vancouver that is one less house for a local to buy. They bid up the prices so high & they don't live in them & won't rent them out. 10 years ago Canadian doctors could afford to buy in Shaughnessy & now even they can't afford to. Same with West Van.
if someone wanted to sell their house for that much and no locals could buy then that seller must be happy. Locals don't buy houses that expensive anyways. so i fail to see what the problem is if the home was unattainable for locals in the first place then what is lost? nothing. Maybe you should complain to the seller to make sell price lower and only sell to a local lolMy realtor friends tell me literally all houses over 2.5M are bought buy rich foreigners. I am surprised "Canadians" are OK with this. I am not.see what happens
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reallyreal
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Re: 70% of MetroVan houses sold went to mainland china buyer
too bad you sold in Vancouver years ago.... lol.
maybe not all Chinese are soooo smaht
maybe not all Chinese are soooo smaht
Re: 70% of MetroVan houses sold went to mainland china buyer
I'm pretty sure that the West Side buyers just pushed people into other markets, which increased those.
The West side is one of the most expensive areas and high RE values just radiate out from there.
But, you know, keep on ignoring immigration / foreign buyers. I'm sure we can keep this problem going if we just stick our head in the sand.
The West side is one of the most expensive areas and high RE values just radiate out from there.
But, you know, keep on ignoring immigration / foreign buyers. I'm sure we can keep this problem going if we just stick our head in the sand.
Redistribute consumption, not income.
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