Foreigners have historical made large land. ranching and corporate investments. Think of Concord Pacific and False Creek. Farther back, there's the British Properties in West Vancouver.except the foreigners have always been a big part of the vibrant culture in Vancouver and part of what makes it great.
Sure lets stop the blatant cheating. Stop the tax cheats, stop allowing rich foreigners to take advantage of Canada's great Social system...Once we crack down on these cheaters, it will calm the frenzy too.
However, I am not aware that foreigners have been a major factor in individual housing units. I think that we must be cautious about the number of Chinese investors and their wealth. Vancouver and TO are small markets compared to the potential cash. And, we must not allow them to overturn the Agricultural Land Reserve. The ALR is the only thing preventing an American type metropolis.
Read this ...
"Dermod Travis: Foreign donations prime the political pump in B.C.
... In one of China’s state-run newspapers, Huang Xiangmo, chairman of the Yuhu Group of developers, wrote this in regard to Australian politicians: “(They’re) not delivering …We need to learn how to have a more efficient combination between political requests and political donations.”
http://www.straight.com/news/888746/der ... al-pump-bc