4 ms·
I lived in Vancouver for 6 years. > Nice, this will curb the unacceptably high 4% of home buyers who are foreign who are definitely responsible for driving the
by baybal2 5y ago
I lived in Vancouver for 6 years.
> Nice, this will curb the unacceptably high 4% of home buyers who are foreign who are definitely responsible for driving the market prices up.
These 4% are driving up prices of the most elite real estate, and crowding out rich elite upper-middle-class Canadians, who invest in real estate, and live in big cities (read Toronto, and Vancouver.) That's the real problem for them.
So, these unacceptably high 4% is mostly visible on West Georgia, and Cambie, and then DT Vancouver, and Toronto.
Most people unhappy about it are rich recent immigrants wanting to buy a house themselves. Please make a distinction in between migrants with Canadian passport, or PR, and foreign buyers without any relationship to the country.
- kenned3 5y agothey also use this to jump to the head of the line for their PR. https://www.cic.gc.ca/english/helpcentre/answer.asp?qnum=653&top=6 https://www.cic.gc.ca/english/helpcentre/answer.asp?qnum=653...
- lwansbrough 5y agoMy whole post was being sarcastic. None of those groups are responsible for the vast majority of demand in this country, it is people who have been living here their whole lives like myself who are priced out simply because there isn't supply for them. The population has grown but the housing has not. And we're doing nothing to meet that demand with additional supply, just slightly cutting down the demand, which doesn't do anything to address the underlying problem.