Quote:
Originally Posted by whatnext
It never ceases to amaze me that people here will defend the right of foreign investors to drive up our real estate prices stratospherically, at the expense of those working and living here.
It's a shame that BIV doesn't allow non-subscribers to read their articles, but Peter Ladner's original column (which the realtor attempted to rebutt), featured a number of interesting facts and points:
- The one overseas owner who is holding 300 local residential properties.
- Stupidly high real estate price discourage businesses thinking of locating here.
- It makes for unsafe neighbourhoods (eg. a block with 5 empty houses)
- It sentences many of those working in the City to long commutes, there goes the beloved Livable Region Strategy
- It forces gov'ts into ham handed policies like the STIR program to try and preserve affordability.
Foreign ownership restrictions are the norm in many places in the world, its not radical and would help solve the problem.
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Obviously it's easier to demand that 'someone do something about these high real estate prices' rather than listen to someone say "you're not doing enough to help yourself".
It's an attitude of entitlement that's going to make life-long renters out of some of the posters on this thread if they choose to continue to reside in Vancouver.
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