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Start restricting offshore "investment" property ownership. This is essentially money laundering at this point.
by beedogs 11y ago
Start restricting offshore "investment" property ownership. This is essentially money laundering at this point.
- markdown 11y agoI live in Fiji. We stopped this last year. Non-citizens can't buy residential properties within town boundaries. Outside of town boundaries, they can buy residential property but must build a home within two years... and there's a minimum $ amount they have to spend building the home. The law was enacted because locals just couldn't compete with the Chinese.
- eps 11y agoYou'll end up with one Chinese guy with a citizenship holding proxy ownership for a hundred that are still in China. Just like it is in Vancouver. That's unless there is a massive tax penalty for owning secondary residencies.
- esja 11y agoSo do both.
- mistermann 11y agoThat's simple enough to detect and outlaw if your government isn't bought and paid for.
- steveax 11y agoMay I ask where in Fiji you live? I traveled there a few decades ago and still have very fond memories. It's been in the back of my mind as a place to wind down after I'm done with the rat race ever since.
- markdown 11y agoI live in Nadi near the international airport. If you last visited a few decades ago, then a lot has changed since then (and probably not in a good way)
- prostoalex 11y agoI live in a Southern Californian town with significant offshore property ownership. I must say it's not all that bad - the property taxes fund the local services and fairly high-ranked school districts, but the morning commute traffic is lighter and schools are not overcrowded, as funders are not here (yet) to take full advantage of services they pay for. The downside is that absentee home ownership encourages property crime, and the most common item on the town's police blotter is "audible home alarm".
- mthoms 11y agoThe problem is that Vancouver is boxed in on all sides by a combination of mountains, ocean and international border. Much like SF, there is literally no where left to expand. Young people will soon be leaving the city in droves.
- seanmcdirmid 11y agoInternational border? I mean, isn't Vancouver like 2 hours north of the border?
- techsupporter 11y agoNot quite. It is approximately 30 miles from the northern city limits of Blaine, Washington (which also happens to be the international border between Canada and the United States) to Waterfront Station/Canada Line on the northern part of the Vancouver proper, facing Burrard Inlet. It takes me about 2.5 hours to drive from Seattle to the middle of Vancouver.
- deleted 11y ago[deleted]
- seanmcdirmid 11y agoI guess I just remembered it wrong, or I'm including traffic.
- 11y ago