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"fueled largely by foreign nationals buying Vancouver property as an investment rather than actually living there. This prices Canadians out of the market." Th
by msie 10y ago
"fueled largely by foreign nationals buying Vancouver property as an investment rather than actually living there. This prices Canadians out of the market."
The majority of property is bought by Canadians. The last time I looked it was 15% foreign, 85% Canadian.
- likeapaper 10y agoYou're right, I somewhat simplified the problem. You're definitely right with the overall numbers: http://www.theglobeandmail.com/news/bc-government-releases-preliminary-data-on-foreign-home-purchases/article30790277/ http://www.theglobeandmail.com/news/bc-government-releases-p... However those numbers are for home sales overall, not a survey of who owns unoccupied homes. In addition, in many ways it's not much better if a house is foreign-owned or not if it's empty, since it still takes much-needed property supply off the market and artificially drives up housing prices.