Quote:
Originally Posted by whatnext
Who cares? it's not worth sacrificing affordability for millions of Canadians just so some shady characters have somewhere to stash their cash. I can't believe anybody would make such an argument! 
Is there is demand for housing, developers will build it. |
The people who buy pre-construction condos are usually investors who are fine with the risk and waiting for 3 years for a project to reach occupancy. The people looking for a place to live are often not looking at pre-constructions with an occupancy date of 3 years in the future.
You need investors, both foreign and domestic to carry projects to market. when you try to limit these investors it means projects will be stalled and take longer to come to market.
This is what is happening to Vancouver right now
and as we all no less supply will lead to higher prices.