Interesting Vancouver Story

Nice article. I do think people don’t want to talk about the issue here either because they could be seen as racist. But, it is a wealth issue not race.

The market will correct in the US and China. The question is how long until it does. Didn’t something similar happen in the late 80s when the Japanese economy was beginning to slow and many bought property outside the country?

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Their local government really has nothing better to do or no bigger problems to solve? It seems 75% of people don’t have the problem.

I am surprised to read this. I always felt Vancouver is one of the mid-size city that’s very vibrant and people seems happy with their laid back life style.

It is you, the “investor” who should be concerned about fighting foreign investors whom may have a huge advantage against you because they may have had that money to beat you up via dishonest way. While you the landlord may be applauding the raising prices of your properties, you should be aware that it is generated, no idea how much, by foreign money.

Again, it is a shame that native born Americans can’t either get a good job, nor can buy a property because the special interests don’t give a damn.

"Indeed, there is profit to be had by capitalising on people’s discomfort around race. Young sees a willingness on the part of politicians and the real estate industry, faced with the prospect of unpalatable policy decisions, to maintain the status quo. “There are a lot of vested interests here,” he says. “To red-flag the entire conversation as racist, I find that disturbing. This is the most profound social justice issue in Vancouver today.”

Then, I read this, and I like that idea:

This month, Prime Minister Justin Trudeau finally went on record as saying overseas money is “obviously” a factor. Mayor Robertson spoke out in favour of a tax on absentee owners, something that 80% of Vancouverites support.

Sometimes, I agree with Twhitler on his nationalism. But the idiot does the above by selling his condos to rich Chinese investors. Cha-chin is the sound they like, while people in this country decry their inability to beat those foreign investors whom may be as corrupt as the sitting president.

There is this constant theme that foreign money must be tainted or bad money. Why is that? So, all domestic money is perfectly clean then, right? Wrong. My IRS buddy can probably tell you all kinds of stories about major audits he has been involved in around here. He has told me a few good ones lately but I can’t share.

Places like SF and the Bay Area have always been desirable places to live. Sure, competition is ramped up even more with foreign money in the mix but we are a global economy now (irregardless of how The Donald wants to turn back the clocks some). You have to fight and scratch for everything today to get anywhere. If you ain’t fighting you mind as well be 6 feet under…

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