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I disagree that they are ideal owners. They provide absolutely no other income or commerce to the city and it's actually becoming an issue. http://crescentmov

I disagree that they are ideal owners. They provide absolutely no other income or commerce to the city and it's actually becoming an issue. http://crescentmovingandstorage.com/problem-vacant-homes-vancouver/ http://crescentmovingandstorage.com/problem-vacant-homes-van... There may be a problem with supply but how are vacant properties a good use of the supply that already exists? What's the point of a city full of empty sky rises?

auganov 10y ago
If it's enough of a problem to cause systemic decline of the city the property prices will have to drop. I just can't see how they would keep on buying and buying till nobody lives there anymore. Granted it is possible, but if they are in fact that crazy then you can still argue it's better to pocket the money and go build another city? Somebody else mentioned supply is being added at a decent rate. So perhaps there just isn't really a problem?
- wvenable 10y ago
  This has been going on for well over a decade and it's accelerating. There are lots of vacant properties and new properties are purchased instantly for above asking. Supply is being added at a decent rate for the population of the city but not everyone purchasing property lives in the city.
hx87 10y ago
A perfect source of tax revenue? Or, if you look at it (and implement it) the right way, a perfect way to take back the wealth that was transferred from working class people in western countries such as Canada to China over the past generation.
- twoodfin 10y ago
  How did that "wealth transfer" work? When (say) $200 of the $800 I spend on an iPhone goes to Chinese manufacturers, they have $200, and I have an iPhone that I value more than $800. To me it looks like we're both wealthier, not to mention the American company that's booking a few hundred dollars itself.
  - Canada 10y ago
    Nobody wants to talk about that. The narrative is that if you're foreign (meaning Chinese) it's unethical to provide for your children, especially if you're wealthier than me because you must have stolen it. Except if you came from Hong Kong. Then it's okay to buy your kids a fleet of Ferraris. You're just protecting your hard earned money from the corrupt commie Chinese. There will be no talk of who is filling the cargo containers that arrive daily!
kazinator 10y ago
Not really. Low demand for stuff keeps its cost low for those who are here. Shorter lines, etc.

auganov 10y ago

If it's enough of a problem to cause systemic decline of the city the property prices will have to drop. I just can't see how they would keep on buying and buying till nobody lives there anymore. Granted it is possible, but if they are in fact that crazy then you can still argue it's better to pocket the money and go build another city? Somebody else mentioned supply is being added at a decent rate. So perhaps there just isn't really a problem?

wvenable 10y ago
This has been going on for well over a decade and it's accelerating. There are lots of vacant properties and new properties are purchased instantly for above asking. Supply is being added at a decent rate for the population of the city but not everyone purchasing property lives in the city.

hx87 10y ago

A perfect source of tax revenue? Or, if you look at it (and implement it) the right way, a perfect way to take back the wealth that was transferred from working class people in western countries such as Canada to China over the past generation.

twoodfin 10y ago
How did that "wealth transfer" work? When (say) $200 of the $800 I spend on an iPhone goes to Chinese manufacturers, they have $200, and I have an iPhone that I value more than $800. To me it looks like we're both wealthier, not to mention the American company that's booking a few hundred dollars itself.
- Canada 10y ago
  Nobody wants to talk about that. The narrative is that if you're foreign (meaning Chinese) it's unethical to provide for your children, especially if you're wealthier than me because you must have stolen it. Except if you came from Hong Kong. Then it's okay to buy your kids a fleet of Ferraris. You're just protecting your hard earned money from the corrupt commie Chinese. There will be no talk of who is filling the cargo containers that arrive daily!

kazinator 10y ago

Not really. Low demand for stuff keeps its cost low for those who are here. Shorter lines, etc.