@@jerrylee3887 .....and not living here and not paying taxes here should not mean one can own then flip homes like pork-bellies to inflate prices to absurd levels- the damage is done (temporarily). The damage means the families of blue collar workers and small business people LEAVE and pay taxes elsewhere. The damage means the new UBC and SFU grads leave and use their skills to attain high paying jobs elsewhere and pay taxes there. The damage means GVRD not only loses the educated professional (potential good tax payer) but cannot attract the high skilled/educated professional because of the absurd housing prices. So if you are right.... hope you don't get sick because there is a hell of an issue getting new nurses to stay in the GVRD because it is not affordable. So if you are right....hope you don't need young kids educated because 44k for a new teacher with student loans doesn't cut it when $1500 for rent is standard. It is the tax payer who drives the economy and the inflated absurd out-of-wack home prices AND RENTS are driving the tax payer away. recent article today in the Sun showed the median home price in Vancouver is 1.156M. The income needed to service the mtg and living is 164k family income. The median income in Vancouver was stated at 65k. This is a gap of 100k almost per year..... The economist recently put out an article stating Vancouver is 65% over-priced. This is based on CMHC data and loads of other stuff. I expect a crash, big time. So cash out before its too late... the party is likely over for people owning 1M$ tear downs in East Van.
@@jerrylee3887 Foreigners should not have such influence on determining where or where not Canadians can live. When folks who households with 2-3x the national average income level cannot afford a home, the govt needs to step in and do something to clamp down, starting with foreign buyers who are soiling our markets.
This an inflammatory video. It highlights the amount without putting any context on it. What percentage of that is it of total sales? What percentage are purely owned by a foriegn buyer? How does that compare relative to other international cities? This is clickbait. The real facts when put in context would be 8%. And thats 8% when there is a canadian owner on title. Rememeber 40% of Vancouver is first generation immigrant. So really what this is, is an anti immigrant dog whistle and ofcourse the solution will be lets find a way to pay the government more money through a tax. They are beyond the laffer curve so ofcourse it won't work.
Tiger Fang M-o-n-e-y l-a-u-n-d-e-r-i-n-g. The whistle has been blowing for decades Tiger... “Immigrant” makes no difference. The point made in the video statistics aren’t taken out of context. Look at the bigger picture. Look at the future. Jobs, workers, affordability? Where do the immigrants’ families live if they have jobs in Vancouver? Vancouver will become a bedroom community where super rich people live. If a family of two, that are a doctor and a lawyer, can not afford to live in the Lower Mainland where can they afford to live... beyond Hope, BC? Five families per house? Tear down all the houses and build small “affordable” apartments sold for >$1 million for each 2 br. apartment or condominium? Not realistic, Tiger. That will cause a brain drain. And by the way? That has already happened years ago. This is not Hong Kong, nor is it San Francisco. The bubble will burst like it always has because it goes in cycles. Sell now or lose money on your investment, soon.
@@Mett19 Prices are way cheaper than India or phillipines's cities or south america economic instability and quality is better. Hence value is better. It's immigrants. Canada only allows in immigrants with money on a merit system. (and some refugees). Then they collect lots of tax. GST, PST, PTT, Property tax, amenities tax, gas tax, overpriced commute tax(ICBC). Do you know how much it costs to build a garage? 60k with all the permits( and that's if you own the land its sits on. 800sqft laneway house? $250k. (assuming you own the land). Clearly you have never traveled, owned or built a home in Vancouver. Locals can't afford to pay the govt services so the immigrants do. The govt needs to fund its expenses with immigrants. Rich ones , skilled ones, hard working ones. No place for poor, lazy entitled people. All cities are the same. Drive 200 km out where life is slow and there's no economy. You'll be able to pick your own fruit for free.
