Canada's 'housing bubble' deemed close to bursting

[Pinus]

Originally Posted by misher

No I just remember when housing prices were low and the economy was 🞵🞵🞵🞵 and everyone was desperate for a job. I remember my dad delivering newspapers for a living because he couldn’t find a job. I remember eating beans for every meal and going to the food bank. I remember why the NDP lost basically every seat across the province and has not received a majority of the vote in over 15 years. You were obviously a lot more blessed than me or you’d remember this time too. So congrats you tried to paint me as the rich entitled 🞵🞵🞵, but you obviously are or you’d remember what a bad economy is like.

I don’t need to buy a house. But I need a job. The same goes for everyone.

And I also understand that all the construction costs in Vancouver along with the development fees mean that housing costs more to build than most can afford. I recognize that housing will never be cheap enough to satisfy people unless the economy collapses. My head is out of the sand, but yours is at the bottom of a well. All you do is focus on the price of housing like an insane person. Well the sky is vast and there’s more to life than owning a house. Everyone here is well fed, everyone can afford the rent, there’s jobs for everyone and employers are desperate for workers. People can afford iPhones, vacations, and beer. Life is good and a cheap house is the not worth sacrificing that. Canada and Vancouver have double the ownership rates of many major nations and I’d say we’re way too obsessed over it. If there’s less homeowners so be it life goes on.

Your reality is nowhere near close to the norm of the Canadian middle class reality. You have no idea how out of touch you are with the rest of Canada (maybe outside of the GTA) in terms of cost of living, which is why you are are not bothered when others Canadian cities begin to trend towards a Lower Mainland housing price "norm"; we don't want that. We want the exact opposite of that. We don't believe real estate should be treated as a commodity open to the international market.

We want the exact opposite that you do. And we will fight as much as we can against that.

[whatnext]

A couple interesting tables comparing Metro Vancouver's top realtors for the first 5 months of 2019 vs 2016. Pretty obvious difference:

https://openhousing.ca/2019/06/03/metro-...rd-luxury-realtors-no-longer-at-the-top/

[lio45]

Originally Posted by SpongeG

Montreal is enjoying the investors that are skipping Vancouver. Enjoy!

Of course we will!

And thanks!!

[ssiguy]

A lot of concern about the potential for a complete reversal in the declining home prices in Vancouver due to a potential feeding frenzy and, as with all things Vancouver, it has nothing to do with what's going on in Canada and everything to do with what's going on in China.

The huge concern in Hong Kong about the new extradition treaty being proposed {aka inevitable} could lead to a mass exodus result fleeing. There 300k Canadians living in HK and the valid concern is that many of those people could end up returning and we all know which city they will head to.

This could also be a VERY dangerous situation for Vancouver etnic relations as the general public sees the housing market warped by yet more Chinese money. Equally important is that the Hong Kongers {and Taiwenese for that matter} do NOT get along with Mainlanders at all. They are polar opposites in their social and political values and they shun it each like the plague. HK/Taiw also tend to be far more wanting to live in a Canadian culture as ussually assimilate to it while Mainlanderss often view Canadian values and norms with distain.

[whatnext]

Originally Posted by ssiguy

A lot of concern about the potential for a complete reversal in the declining home prices in Vancouver due to a potential feeding frenzy and, as with all things Vancouver, it has nothing to do with what's going on in Canada and everything to do with what's going on in China.

The huge concern in Hong Kong about the new extradition treaty being proposed {aka inevitable} could lead to a mass exodus result fleeing. There 300k Canadians living in HK and the valid concern is that many of those people could end up returning and we all know which city they will head to.

This could also be a VERY dangerous situation for Vancouver etnic relations as the general public sees the housing market warped by yet more Chinese money. Equally important is that the Hong Kongers {and Taiwenese for that matter} do NOT get along with Mainlanders at all. They are polar opposites in their social and political values and they shun it each like the plague. HK/Taiw also tend to be far more wanting to live in a Canadian culture as ussually assimilate to it while Mainlanderss often view Canadian values and norms with distain.

It would be interesting to know how much time those 'ex-pat canadians" had actually clocked in Canada.

[CivicBlues]

Originally Posted by ssiguy

A lot of concern about the potential for a complete reversal in the declining home prices in Vancouver due to a potential feeding frenzy and, as with all things Vancouver, it has nothing to do with what's going on in Canada and everything to do with what's going on in China.

The huge concern in Hong Kong about the new extradition treaty being proposed {aka inevitable} could lead to a mass exodus result fleeing. There 300k Canadians living in HK and the valid concern is that many of those people could end up returning and we all know which city they will head to.

This could also be a VERY dangerous situation for Vancouver etnic relations as the general public sees the housing market warped by yet more Chinese money. Equally important is that the Hong Kongers {and Taiwenese for that matter} do NOT get along with Mainlanders at all. They are polar opposites in their social and political values and they shun it each like the plague. HK/Taiw also tend to be far more wanting to live in a Canadian culture as ussually assimilate to it while Mainlanderss often view Canadian values and norms with distain.

Ah, My two favorite crusty old white guys from this forum musing about inter-Chinese relations in Canada. Hilarious.

You seem to have short memories (or maybe you are just new Vancouver transplants) as I remember growing up in the 90s, immigrants from Hong Kong were derided as "Hongers" and treated with disdain for being ostentatious with their wealth, building Monster Houses that did not fit the character of their neighborhood buying up properties and driving up prices . Now the exact same rhetoric is being used to describe immigrants from Mainland China and suddenly the Hongers are the good ones that assimilate. Well guess what? it's nothing new...Chinese people were being called locusts and parasites since the 1800s. So do us all a favour and can it with the "good chinks and bad chinks" rhetoric why don't you?

News flash for you: "Mainlanders", Hong Kongers, and Taiwanese are all the same ethnicity. To you two, they're all undesirables at any given point in history. You've watched a few news stories from HK and suddenly you think it's the East-Asian equivalent of the Israeli-Palestinian conflict. Are there tensions between these groups? Do the Hong Kong people have a legitimate reason to protest? Oh definitely. But does this ever translate into actual violence on the streets of Vancouver? Practically never. Chinese immigrants will always put business interests and societal "harmony" over bringing politics into their new home. No Hong Konger is going to refuse business from a Mainlander. Mainlanders will use a Hong Konger realtor who brushed up on her Mandarin to drum up more business. They might hold their nose and sneer under their breath but that's pretty much the extent of it. Besides, as much as you can't see or refuse to see it, one generation removed and they all become Canadian anyways. Adding a few thousand more returning Canadians, yes Canadians won't suddenly turn Vancouver into Sarajevo circa 1992.

So your little 🞵🞵🞵 🞵🞵🞵🞵🞵 about inter-Chinese conflict spilling blood on the streets of Richmond will have to remain just that unfortunately.

[whatnext]

Originally Posted by CivicBlues

Ah, My two favorite crusty old white guys from this forum musing about inter-Chinese relations in Canada. Hilarious.

You seem to have short memories (or maybe you are just new Vancouver transplants) as I remember growing up in the 90s, immigrants from Hong Kong were derided as "Hongers" and treated with disdain for being ostentatious with their wealth, building Monster Houses that did not fit the character of their neighborhood buying up properties and driving up prices . Now the exact same rhetoric is being used to describe immigrants from Mainland China and suddenly the Hongers are the good ones that assimilate. Well guess what? it's nothing new...Chinese people were being called locusts and parasites since the 1800s. So do us all a favour and can it with the "good chinks and bad chinks" rhetoric why don't you?

News flash for you: "Mainlanders", Hong Kongers, and Taiwanese are all the same ethnicity. To you two, they're all undesirables at any given point in history. You've watched a few news stories from HK and suddenly you think it's the East-Asian equivalent of the Israeli-Palestinian conflict. Are there tensions between these groups? Do the Hong Kong people have a legitimate reason to protest? Oh definitely. But does this ever translate into actual violence on the streets of Vancouver? Practically never. Chinese immigrants will always put business interests and societal "harmony" over bringing politics into their new home. No Hong Konger is going to refuse business from a Mainlander. Mainlanders will use a Hong Konger realtor who brushed up on her Mandarin to drum up more business. They might hold their nose and sneer under their breath but that's pretty much the extent of it. Besides, as much as you can't see or refuse to see it, one generation removed and they all become Canadian anyways. Adding a few thousand more returning Canadians, yes Canadians won't suddenly turn Vancouver into Sarajevo circa 1992.

So your little 🞵🞵🞵 🞵🞵🞵🞵🞵 about inter-Chinese conflict spilling blood on the streets of Richmond will have to remain just that unfortunately.

So, in short: Cash will always trump principles for them. Not necessarily dream qualities liberal democracies should be looking for in new citizens.

[CivicBlues]

Originally Posted by whatnext

So, in short: Cash will always trump principles for them. Not necessarily dream qualities liberal democracies should be looking for in new citizens.

Why am I not surprised that's your take away from this? So we should be taking in immigrants that migrate for economic reasons AND will bring their ethno-religous baggage with them as well? The Chinese are no different from any other immigrant group that Canada wants, except they more often than not leave their ethnic baggage behind them. And going by ssiguy's rants, you dog whistle racists will forget about the first group after the 2nd generation assimilates and use them to pit against the next group of undesirables.

I think your true colours are showing now with this post. Luckily, you're not in charge of deciding who is a Canadian. You were so scared about the Red China threat you were totally blindsided by the possibility of 300K Canadians repatriating from Hong Kong - that must make you so angry.

Go back to finding more China articles to repost.

[whatnext]

Originally Posted by CivicBlues

Why am I not surprised that's your take away from this? So we should be taking in immigrants that migrate for economic reasons AND will bring their ethno-religous baggage with them as well? The Chinese are no different from any other immigrant group that Canada wants, except they more often than not leave their ethnic baggage behind them. And going by ssiguy's rants, you dog whistle racists will forget about the first group after the 2nd generation assimilates and use them to pit against the next group of undesirables.

I think your true colours are showing now with this post. Luckily, you're not in charge of deciding who is a Canadian. You were so scared about the Red China threat you were totally blindsided by the possibility of 300K Canadians repatriating from Hong Kong - that must make you so angry.

Go back to finding more China articles to repost.

Why wouldn't that be my takeaway? This is what you said: "Chinese immigrants will always put business interests and societal "harmony" over bringing politics into their new home. No Hong Konger is going to refuse business from a Mainlander'

It is hardly "Give me liberty or give me death". Maybe "Give me liberty or at least a couple of bucks".

And why would you think I was blindsided? We always knew these fairweather Canadians would use this country as a bolt hole if things got rough, that's why they bought their passports in the first place.

[CivicBlues]

Originally Posted by whatnext

And why would you think I was blindsided? We always knew these fairweather Canadians would use this country as a bolt hole if things got rough, that's why they bought their passports in the first place.

What a sad, angry little man you must be in real life. I don't think anyone can say anything to convince you otherwise since you're so engaged at the thought of a Chinese Canadian living abroad. I can just rattle off names of people I grew up with who were born in Canada or immigrated to Canada at an early age that went to HK to pursue better career opportunities. But no! They must be fake Canadians!! How dare they seek better opportunities for themselves! They should have dropped their Canadian passport off at the airport before their flight. Just like Alex Trebek, Jim Carrey and Drake, right?

Oh well, there's nothing you can do about it. If theys-a-comin back then theys-a-comin!

[someone123]

Originally Posted by whatnext

And why would you think I was blindsided? We always knew these fairweather Canadians would use this country as a bolt hole if things got rough, that's why they bought their passports in the first place.

It should be said that on the whole, Asian immigrants to Canada have been enormously successful and well integrated, and on average they are probably harder working than the wider Canadian population.

Housing prices, money laundering, etc. are not really "immigration" problems. If we had better policies and enforcement, it would be possible for Vancouver to grow at 1-2% per year without housing prices going up by 10% a year. And there are a bunch of other equally fast growing cities in Canada that don't have Vancouver's affordability problems.

I agree though that something seems a little off it we have granted citizenship to so many Chinese or Hong Kong citizens who left after a few years but retained a bunch of Canadian rights. It seems like we should either be granting PR instead of citizenship more, or we should have some kind of special third class that grants you most rights (e.g. you wouldn't be deported due to a minor crime) but that doesn't stick around for life if you move away for a long period of time, and isn't necessarily passed on to children. People who have settled in other countries and were not born in Canada should not have "backup" Canadian passports. I suspect the current system is just outdated, and hasn't changed enough since the days when the typical immigrant to Canada arrived here on a steamship and stayed for life.

[whatnext]

Originally Posted by CivicBlues

What a sad, angry little man you must be in real life. I don't think anyone can say anything to convince you otherwise since you're so engaged at the thought of a Chinese Canadian living abroad. I can just rattle off names of people I grew up with who were born in Canada or immigrated to Canada at an early age that went to HK to pursue better career opportunities. But no! They must be fake Canadians!! How dare they seek better opportunities for themselves! They should have dropped their Canadian passport off at the airport before their flight. Just like Alex Trebek, Jim Carrey and Drake, right?

Oh well, there's nothing you can do about it. If theys-a-comin back then theys-a-comin!

Oh I absolutely agree, I can't stand when we trot Michal J Fox or KD Lang out as "canadian" celebrities at events. They left Canada long ago and clearly have no intent of ever residing here permanently again. In the era of the welfare state, citizenship should be "use it lose it". Why should my taxes go to support fairweather Canadians?

As to your claim you "can just rattle off names of people I grew up with who were born in Canada or immigrated to Canada at an early age that went to HK to pursue better career opportunities." Do you think that's impressive, a list of people who couldn't hack it in Canada and have little interest in it until they think their money might be threatened? If they wanted to make some money because of lax envioenmtal or labour regs, they should deal with the consequences. They made their bed, now they should sleep in it, just like the so called lebanese-canadians who expected Canada to come to their rescue and bail them out of the country they chose to go back to.

Canada is better than a hidey-hole. Our governments shouldn't devalue our citizenship by allowing it to be treated that way.

[Xelebes]

Originally Posted by ssiguy

A lot of concern about the potential for a complete reversal in the declining home prices in Vancouver due to a potential feeding frenzy and, as with all things Vancouver, it has nothing to do with what's going on in Canada and everything to do with what's going on in China.

The huge concern in Hong Kong about the new extradition treaty being proposed {aka inevitable} could lead to a mass exodus result fleeing. There 300k Canadians living in HK and the valid concern is that many of those people could end up returning and we all know which city they will head to.

This could also be a VERY dangerous situation for Vancouver etnic relations as the general public sees the housing market warped by yet more Chinese money. Equally important is that the Hong Kongers {and Taiwenese for that matter} do NOT get along with Mainlanders at all. They are polar opposites in their social and political values and they shun it each like the plague. HK/Taiw also tend to be far more wanting to live in a Canadian culture as ussually assimilate to it while Mainlanderss often view Canadian values and norms with distain.

If they're moving to live in Canada, then I don't see the problem. That was never the problem. The problem was Chinese nationals still living in China who were buying property in Canada, limiting the housing options of Canadians living in Canada.

[CivicBlues]

Originally Posted by whatnext

Oh I absolutely agree, I can't stand when we trot Michal J Fox or KD Lang out as "canadian" celebrities at events. They left Canada long ago and clearly have no intent of ever residing here permanently again. In the era of the welfare state, citizenship should be "use it lose it". Why should my taxes go to support fairweather Canadians?

As to your claim you "can just rattle off names of people I grew up with who were born in Canada or immigrated to Canada at an early age that went to HK to pursue better career opportunities." Do you think that's impressive, a list of people who couldn't hack it in Canada and have little interest in it until they think their money might be threatened? If they wanted to make some money because of lax envioenmtal or labour regs, they should deal with the consequences. They made their bed, now they should sleep in it, just like the so called lebanese-canadians who expected Canada to come to their rescue and bail them out of the country they chose to go back to.

Canada is better than a hidey-hole. Our governments shouldn't devalue our citizenship by allowing it to be treated that way.

If they wanted to make some money because of lax envioenmtal or labour regs, they should deal with the consequences.

Most of the people I know went to Hong Kong to work in the Tech, Legal and Financial sectors, you know, it being a Global Financial hub and all. Do you even know what you're talking about? You do realize Hong Kong is not exactly China right? Couldn't hack it in Canada, I guess all those famous Hollywood Actors couldn't hack it in the great Canadian film industry either LOL

Nonetheless, I look forward to your next article post denouncing Canadian-American Celebrities for their treachery.

[WhipperSnapper]

Foreign nationals investing in Canada to the point of price fixing and/or artificially inflating values is not good wherever they are from. Same applies to foreign exchange students coming here to learn effectively taking finite spaces away from Canadians.

It's political suicide to address real estate speculation since our major local economies (aside from British Columbia that reached such extremes some action needed to be taken) have become so reliant on it for economic growth. It's not sustainable. It will correct itself at some point but, no one wants to be in power when that happens.

I don't care where immigration comes from providing they are literate and employable. Trump has a point here. The current administration has accepted many people that only know how to breed and will never be able to participate in our economy. Don't get me wrong, Bring me your tired and huddled masses is admirable but, our participating middle class just can't afford it and the tax system will never be overhauled so the brunt of the costs doesn't fall on the middle class.


There is also something to be said about dual Canadian citizens living abroad that come here for a post secondary education to go back to where they came after they are done. There's no benefit to our nation whatsoever and Canadian students lose.

[Gresto]

Originally Posted by whatnext

In the era of the welfare state, citizenship should be "use it lose it". Why should my taxes go to support fairweather Canadians?

...

Canada is better than a hidey-hole. Our governments shouldn't devalue our citizenship by allowing it to be treated that way.

I happen to agree wholeheartedly. Canada's social safety net is a wonderful (if imperfect) thing, and I think it should be expanded to Scandinavian-socialist levels, but Canada need not allow itself to be treated as a convenient stopover for money launderers or those who deign themselves too special or worldly to be tied down to one country. Don't want to live here? Fine, but you may not avail yourself of a generous system that was created for the use of permanent citizens.

[whatnext]

Originally Posted by CivicBlues

Ah, My two favorite crusty old white guys from this forum musing about inter-Chinese relations in Canada. Hilarious.

You seem to have short memories (or maybe you are just new Vancouver transplants) as I remember growing up in the 90s, immigrants from Hong Kong were derided as "Hongers" and treated with disdain for being ostentatious with their wealth, building Monster Houses that did not fit the character of their neighborhood buying up properties and driving up prices . Now the exact same rhetoric is being used to describe immigrants from Mainland China and suddenly the Hongers are the good ones that assimilate. Well guess what? it's nothing new...Chinese people were being called locusts and parasites since the 1800s. So do us all a favour and can it with the "good chinks and bad chinks" rhetoric why don't you?

News flash for you: "Mainlanders", Hong Kongers, and Taiwanese are all the same ethnicity. To you two, they're all undesirables at any given point in history. You've watched a few news stories from HK and suddenly you think it's the East-Asian equivalent of the Israeli-Palestinian conflict. Are there tensions between these groups? Do the Hong Kong people have a legitimate reason to protest? Oh definitely. But does this ever translate into actual violence on the streets of Vancouver? Practically never. Chinese immigrants will always put business interests and societal "harmony" over bringing politics into their new home. No Hong Konger is going to refuse business from a Mainlander. Mainlanders will use a Hong Konger realtor who brushed up on her Mandarin to drum up more business. They might hold their nose and sneer under their breath but that's pretty much the extent of it. Besides, as much as you can't see or refuse to see it, one generation removed and they all become Canadian anyways. Adding a few thousand more returning Canadians, yes Canadians won't suddenly turn Vancouver into Sarajevo circa 1992.

So your little 🞵🞵🞵 🞵🞵🞵🞵🞵 about inter-Chinese conflict spilling blood on the streets of Richmond will have to remain just that unfortunately.

Seems that plenty in Hong Kong would disagree with your thesis:

Why don’t Hong Kong Canadians just say they are Chinese? Because of subethnicity, and this is why it matters
-A study of ethnic Chinese in Vancouver points to the wide gaps between Hongkongers and mainlanders, defying assumptions about ‘Chinese Canadian’ homogeneity
-Politics, language, and battles over ‘cultural authenticity’ serve as dividing lines – but some friendships manage to bridge the subethnic gap

..“We [ethnic Chinese] all know about the gaps and tensions between Chinese from different places,” Yan said when asked about the study, which involved dozens of ethnic Chinese Vancouverites, mostly mainlanders and Hongkongers, as well as a small number of Taiwanese immigrants. “But the majority of Canadians look at us all as one group [and] that’s not the reality.” He said the tendency of Hong Kong-origin people to now identify as Hongkongers or Hong Kong Canadians – and not simply as Chinese, or Chinese Canadians – had solidified since the 1997 handover....

...It is a tendency reflected in previous surveys from Hong Kong, one of which found that only 8.9 per cent of people there identified solely as Chinese, compared with 32.1 per cent at the time of the handover.
That tendency is even more extreme among young people: in 2017, Hong Kong University pollsters found that only 3.1 per cent of respondents in Hong Kong aged 18-29 identified as Chinese, compared with 65 per cent who identified as Hongkongers....

...“Mainland Chinese became the No 1 incoming group. Where do they go? Where the Hong Kong people used to be. They start taking up the restaurants, the grocery stores … You go to T&T [a Chinese supermarket chain] now, and if you speak Cantonese you get asked ‘Why don’t you speak Mandarin?’”.
“That’s a tension. That makes the label ‘Hongkonger’ more substantial. Who we are, who we are not....

https://www.scmp.com/news/china/society/...adians-just-say-they-are-chinese-because

[CivicBlues]

Originally Posted by whatnext

Seems that plenty in Hong Kong would disagree with your thesis:

Why don’t Hong Kong Canadians just say they are Chinese? Because of subethnicity, and this is why it matters
-A study of ethnic Chinese in Vancouver points to the wide gaps between Hongkongers and mainlanders, defying assumptions about ‘Chinese Canadian’ homogeneity
-Politics, language, and battles over ‘cultural authenticity’ serve as dividing lines – but some friendships manage to bridge the subethnic gap

..“We [ethnic Chinese] all know about the gaps and tensions between Chinese from different places,” Yan said when asked about the study, which involved dozens of ethnic Chinese Vancouverites, mostly mainlanders and Hongkongers, as well as a small number of Taiwanese immigrants. “But the majority of Canadians look at us all as one group [and] that’s not the reality.” He said the tendency of Hong Kong-origin people to now identify as Hongkongers or Hong Kong Canadians – and not simply as Chinese, or Chinese Canadians – had solidified since the 1997 handover....

...It is a tendency reflected in previous surveys from Hong Kong, one of which found that only 8.9 per cent of people there identified solely as Chinese, compared with 32.1 per cent at the time of the handover.
That tendency is even more extreme among young people: in 2017, Hong Kong University pollsters found that only 3.1 per cent of respondents in Hong Kong aged 18-29 identified as Chinese, compared with 65 per cent who identified as Hongkongers....

...“Mainland Chinese became the No 1 incoming group. Where do they go? Where the Hong Kong people used to be. They start taking up the restaurants, the grocery stores … You go to T&T [a Chinese supermarket chain] now, and if you speak Cantonese you get asked ‘Why don’t you speak Mandarin?’”.
“That’s a tension. That makes the label ‘Hongkonger’ more substantial. Who we are, who we are not....

https://www.scmp.com/news/china/society/...adians-just-say-they-are-chinese-because

When did I say there were never any tensions? I just merely said they're not as dire as some people would like you to believe.

Oh no...Hong Kongers are not identifying as "Chinese-Canadians". Dialectical differences and misunderstandings at the local T&T!! It won't be long before Vancouver becomes sectarian Beirut now!!

[whatnext]

The scourge that is AirBnB:

Airbnb likely removed 31,000 homes from Canada’s rental market, study finds

More than 31,000 homes across the country were rented out so often on Airbnb in 2018 that they were likely removed from the long-term rental supply, according to a groundbreaking study by McGill University researchers.

Put another way, that’s more than enough homes for everyone in North Vancouver.

As the popularity of short-term rentals has soared, the effect on rental supply in Canada’s cities, towns and rural areas has grown, according to the study. Shared exclusively with The Globe and Mail, the report is the most comprehensive analysis of Airbnb’s impact to date, and reveals the extent of the global rental service’s footprint, even as local officials implement rules that target the short-term rental industry...

...“There are people who are being evicted from their apartment buildings to convert those units into Airbnbs,” Prof. Wachsmuth said. “That’s a fact right now.”

The McGill authors note that frequently rented homes “are still a small fraction of total housing” in any Canadian city. However, listings can be highly concentrated in some neighbourhoods. In parts of Montreal, for instance, one in five homes were listed on Airbnb....

https://www.theglobeandmail.com/canada/a...-homes-from-canadas-rental-market-study/

[Nite]

Originally Posted by whatnext

The scourge that is AirBnB:

Airbnb likely removed 31,000 homes from Canada’s rental market, study finds

More than 31,000 homes across the country were rented out so often on Airbnb in 2018 that they were likely removed from the long-term rental supply, according to a groundbreaking study by McGill University researchers.

Put another way, that’s more than enough homes for everyone in North Vancouver.

As the popularity of short-term rentals has soared, the effect on rental supply in Canada’s cities, towns and rural areas has grown, according to the study. Shared exclusively with The Globe and Mail, the report is the most comprehensive analysis of Airbnb’s impact to date, and reveals the extent of the global rental service’s footprint, even as local officials implement rules that target the short-term rental industry...

...“There are people who are being evicted from their apartment buildings to convert those units into Airbnbs,” Prof. Wachsmuth said. “That’s a fact right now.”

The McGill authors note that frequently rented homes “are still a small fraction of total housing” in any Canadian city. However, listings can be highly concentrated in some neighbourhoods. In parts of Montreal, for instance, one in five homes were listed on Airbnb....

https://www.theglobeandmail.com/canada/a...-homes-from-canadas-rental-market-study/

Canada builds 200,000 housing units a year. that would mean it takes 8 weeks of on units coming to market to match all the demands for Airbnb and we have tens of millions of housing units built already so 30,000 shows Airbnb are not a significant factor in the housing market in Canada.