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I think it started with mostly foreigners buying up property, not to live in but as investment to keep the value of their money, like using housing as an altern
by RedShift1 4y ago
I think it started with mostly foreigners buying up property, not to live in but as investment to keep the value of their money, like using housing as an alternate currency to dollars
- jmspring 4y agoI have been venturing to Vancover BC for the better part of the last 30 years. In that time, there were waves of hippies selling in Kits and moving to the Okanagan, etc. Prices went up. What has happened in the last 15+ years is a noticable vacancy when you look at housing as you walk around. An influx of foreing money has been buying up and keeping properties vacant. This is happening all up and down the west coast. Some of that money may not be foreign, but a lot is. BC has attempted a lack of occupancy tax and it seems like it's not working.
- epicureanideal 4y agoBut if we were able to build to keep up with demand, in theory the price would not increase so sharply...