Why are you being so obtuse about this? Its pretty clear what everyone is saying.One anecdote, a double income family just bought a property in Vancouver. Was more than they wanted but they had an eye on that property for years. They will be aggressively pricing their existing property obviously. What are we going to do about that?
What are we going to do about that Jesse?The dominant influence of Chinese investors in Vancouver has finally been proven with comprehensive data.
In a recent six-month period about 70 per cent of all detached homes sold on Vancouver’s west side were purchased by Mainland China buyers, an academic case study shows.
Even more stunning, the study shows that of all self-declared occupations among owners — on homes worth an average $3.05 million — 36 per cent were housewives or students with little income.
And 18 per cent of the 172 homes purchased were not mortgaged by banks. That means roughly $100 million in questionable cash was poured into Vancouver’s west side from August 2014 to February 2015, much of it from China. Total value of all homes sold in the study period was $525 million.
if this was a 3d game, it would be called 'phallic envy". people just want what others have and get upset when they cant have itOne anecdote, a double income family just bought a property in Vancouver. Was more than they wanted but they had an eye on that property for years. They will be aggressively pricing their existing property obviously. What are we going to do about that?
What is wrong if the answer is "no"? I thought it is even better for Canada if the money was earned outside, no?Did they buy it with money that has been taxed in Canada? Did they earn the money in Canada? Do they plan to live in said house? Do they plan to stay long term? Do they spend most of their earnings here?
Sounds like the answer to above questions is "yes."
Yah - but who cares about kids. Clearly not foreigners.Sucks for kids...no Halloween candy at that house, no Chritmas light on that block, no neighbourhood kids to play with in that area etc etc