Who is buying property in Vancouver? Analysis | CBC Vancouver 

Government policy has thrown the future under the bus for decades. The day of judgment is near. I predict an 80% drop in the stock market. Investors will abandon stocks in favor of real estate. There will be no money in banks... You must devise a strategy for survival.

@@bernisejedeon5888 I agree. I have pulled in more than $435k since 2020 through my advisor. It pays off more in the long run to just pick quality stocks and ride with those stocks.

@@yolanderiche7476 Mind if I ask you recommend this particular professional you use their service? i have quite a lot of marketing problems.

@@edelineguillet2121 Big Credits to “Julia Ann Finnicum” she has a web presence, so you can simply search for, there are some others but it might be difficult to get them, but Julia has been a good guide through the year.

@@yolanderiche7476 She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing.

He's just done with it. Old and younger people should just give up. It's really all just mania.

@@esparda07already have❤

How’s it rigged? People who been in the game longer than you are doing better isn’t rigged it’s how life works. Alberta is few hours away with a ton of affordable why don’t you go buy there? Just admit you’re just lazy and entitled.

Do you understand how the law of supply and demand works?

seems wild to think he doesn't mention population growth is outpacing building by far...cuz ahhh thats clearly the issue. still need to "build, build build" and this is economics 101. supply and demand.

​@@jacksoncn how you measure supply affects the outcome, because it's not only the supply of housing, but also the supply of another commodity: money. Now let's see population growth for Vancouver metro area: population growth actually slowed down from 1.28% in 2018 to less than 1% in the following years, but prices rose steeply in the same time period. In the housing market availability of currency is an issue, so you can't simply measure supply and demand like you would, for instance, for the purchase of groceries. That happens because any decrease in basic annual interest rate will increase the demand, even if you increase the supply, so it's not an automatic relation. Also, the increase or decrease of annual interest rate is always correlated to other markets, for instance, the basic interest rate only makes sense in comparison to the pricing of bonds in the US and in other markets, such as Brazil, where, as of now, the government pays a basic interest rate of 13.75%. I am not a researcher on the subject, I'm only pointing out that other variables should be taken into account when measuring supply and demand, because the price of money itself influences the demand for housing, since it's not just for living, but an asset. Also keep in mind that if you borrow money with no purpose (personal loan), your interest rate is X, but if you borrow money to pay for a house, your interest rate is often 5 times lower. The problem is, that "cheap money" is "stuck" in the house, so you need to rent it and invest back in markets that pay higher APYs. That's what I would do, and it's probably what a lot of investors are doing. So there's probably an influence of higher interest rates in developing countries influencing the housing market in Vancouver and other major cities. That's my initial hypothesis, but more research should be made in order to ascertain whether it's valid or not.

fair enough but when you say "population growth for Vancouver metro area: population growth actually slowed down from 1.28% in 2018 to less than 1% in the following years, but prices rose steeply in the same time period" you're telling me the population still increased by tens of thousands. how many new units were built during that time? building also slow? im assuming it did. ive seen an actual break down, it costs developers around 1.1million dollars to build a single townhouse in Vancouver. land, city taxes and fees, labour and materials... developers are taking on alot of financial risk to make a couple hundred in profit. personally i think the solution is to remove zoning restrictions, allow people to add suites to their homes, build multifamily in all residential areas... people will absolutely do it. quick way to increase supply. then, prices will come down. jmho

absolutely.. a rarity these days.. i have to give him his props for that.. that takes a lot to do that

It's not that shocking now that interest rates are going up 5.5 million Canadians are going to be in financial trouble. So the people who are buying now will probably be those investors

In Monopoly, if you only want to buy Boardwalk and won't even look at the other 20 properties, then yeah life would be tough.

You said it right, Vancouver is the Boardwalk. You must paid the price if you want to earn higher rents later.

This reporter doesn’t have a clue about Fraudcouver.

@@hygogc1685you cant even afford to look at the boardwalk in van

Hahahaah time to buy in the territories and Manitoba and Atlantic Canada lol!

This af!!!!! 🎯🎯🎯🎯

That’s why mortgage rates aren’t going down just up

" taxed like crazy on the rental earnings" , that means no one are willing to rent out their unit anymore so will it drives the rent even higher ....

That's it: greed and entitlement.

I like it. Also ban AirBNB, that has had a huge artificial influence on housing prices and availability

Apparently 20% of Canada's GDP is Real Estate. That's quite high.

@@ironhammer4095damn

Stop wasting the tax payers money on programs the never have and never will work (Start by cutting U.I.C. to 4 months, and kick able bodied young people off of welfare) then LOWER the taxes.Eliminate the Carbon tax. THAT will spike the economy. It will also get people working. I know a place that has been looking for a waitress for 3 months. No applicants. but paying people not to work is a killer

@@glenw-xm5zf Then raise the wages. That's what Henry Ford did. That's Capitalism.

@@ironhammer4095 Wrong. That's inflation. In 1960, I could go to the upscale drive in aka The White Spoot' (Only in B.C.)have a super tasting cheeseburger with onions et al, fries, and a coffee for a dollar. Today $25 bux. I am not an Economics Major but regulations , controls, government intervention and meddling will create inflation. take a look at Canada and the us before 2016, and since 2016. Both bought into and elected a amrxist based dictatorship. We are hooped.. Capitalism is the best tyttem in the world, and it made American the most awesome country on the planet, along with Canada. then the marxistscome and take over and kill the goose that layus the golden eggs, and I have watched this happen from ring iside ever since 1972, when B.C. elected 'the commies' aka NDP. They killed us

The values go up because of DEMAND.. and everyone wants to live here. Newsflash: God isn't making any more land

Exactly. You can find an article in the New Yorker in 2014 called real estate goes global. Where it states that surprisingly the hottest real estate market in north america is in Vancouver which doesnt match the average income... people with money have been buying up real estate because there arent enough safe assets around. And its flowing internationally. Now theres an interesting video by cbc reporter Utay Lee on missing middle housing in Vancouver. If you want to build a coach home on your lot, many areas domt have the zoning but if its allowed it will cost 250-350k to build (plus 70k to the city to pay the increased density fee) how many years to get a return on investment? Decades. Its not worth it. If you have the money you can just let it earn 6% and still keep your yard. It may be worth it for multi generational housing. But do your kids want to be that close?

Simple. Canada's GDP depends on it.

​@@shauncameron8390this is Canada not china.

​@@spammerscammerchinada

​@@shauncameron8390unfortunately u r correct.

The more the market gets controlled, the higher the misery index will go. Leave business alone. So there is greed. Guess what,poor folks can be greedy too.

Which is a shame because Calgary has done a very consistent job with housing and density. It's not Texas in Alberta at all, it's more like suburban Toronto. It fucking sucks that Ottawa and the provinces just make us war it out on eachother rather than change policy away from The Housing Hunger Games. The global money always wins. Remember Canucks: Most "foreign" property investors are AMERICANS. We can blame the money from the USA for this, primarily.

I should also mention that using average income to determine the wealth of most Canadians is a lie foisted by the rich. If you live in a poor town of 100 people, where everyone has debt and their net worth is around zero (1 in 2 Canadians has a net worth of zero dollars), and Elon Musk moves to your town, he will drag your towns average net worth up to 2 billion dollars per person. Everyone is still broke, but you look rich on paper. Median net worth is still 0, but average is 2 billion. Half of Canada has a net worth of 0, but average net worth is $740,000, because the top 1% have so much money they make the majority broke nation look rich. And those are the folks buying up all the homes, paying ridiculous prices and driving up the cost of everything as they pursue profit.

Exactly. I have said for many years that housing should not be considered as a vehicle of investment. Housing is fundamental as food!!! No corporate or multiple buying. Ban it !!!

Yesss. This right here is the truth💯👍

GREED. Coward nation a Of greedy cowards

Sorry, but I feel as if you have completely missed the mark on some of the opinions and data presented in this video. What Prof. Condon was saying was that Vancouver is basically divided into haves and have-nots. Many of the "haves" are haves simply because of a little bit of luck and timing. A lot of people have this idea that it's millionaire foreign investors buying up all the property that is causing housing prices and rents to skyrocket but a lot of these investors are actually your local neighbours. The majority of Canadians actually do not want to see a housing crash. The majority of Canadians own their home. The only people who are truly screwed and hoping for a collapse are first-time homebuyers who have not yet entered the market and make around an average income, because you're right, how can these people afford these prices? These can be young adults and it can also be older adults who were unable or chose not to purchase property roughly 10, 20, 30 years ago when housing was more affordable. Prof. Condon explains that it's people like him, and other boomers, that are lot to blame. You're also confusing income with net worth. The two are not directly correlated. Also, I don't know where you got your data that 1 in 2 Canadians have a net worth of zero dollars because it's not accurate. Let's talk more about those haves. Basically anyone who purchased a single detached home in Vancouver when it was more affordable to do so are now paper millionaires (eg. purchased house at $200,000 with $40,000 household income and mortgage debt of $100,000 left now worth $1,800,000 = net worth of $1,700,000 which can be tapped as equity). It doesn't matter what their income was and is. This is the story for so many immigrant families as well as local families who came with or made very little money but put everything they had into buying a home. 15-30 years later they're sitting on an investment worth significantly more money that they can use to leverage for a number of investment opportunities. Roughly 1 in 4 BC homeowners are property investors. 1 in 10 have an owner-occupied investment property that is talked about in the video. These haves are using their wealth to generate more wealth. Having experienced tremendous success with the housing market, these people are now leveraging their net worth to purchase smaller properties, particularly condos, as investments. And let's talk about generational wealth transfer. We talked about young first-time homeowners a moment ago. How are these kids fresh out of school and earning $50,000-60,000 able to afford $500,000 condos? Well, it comes down to their "have" parents helping them. Again, these are your everyday neighbours. Many first-time mortgage takers get help from parents in the form of a sizeable financial gift. In Vancouver, apparently that average is $180,000 towards the down payment. Combined with their own savings, that's enough to reduce the size of the mortgage down to something reasonable on an average household income. So "have" parents have now enabled the next generation to also own housing in this crazy market. Other parents purchase an investment property that they rent out until their children are ready to move in. And in a country where such a sizeable number of people own their own home where housing is the single largest contributor to GDP growth, average net worth has also grown with it. It's not because Elon Musk is moving into your neighbourhood, it's because of housing. Simply, your facts are wrong and housing is the primary driver of net worth growth. We can use Stats Canada quintile data instead of total averages and even medians to see how those who fall into the lowest quintile are doing and also those who presumably own homes and fall in a higher quintile. These numbers have grown significantly between 2000 to now. Also, I wanted to point out that high rents are often not a direct result of high housing costs. It can be a factor, but market rent is primarily driven by what the market can bear. Simply put, there are enough people who can afford $2500 rent for a 1BR. It is not the renter's problem if the landlord cannot afford their bills. If everyone hypothetically lost their jobs tomorrow and suddenly could only afford $500 in rent, these landlords would no longer be able to charge $2500 even if their monthly housing costs are close to $2500. Rents would drop down to $500 and the landlords who cannot manage will be forced to sell. And that is my very long winded explanation for why the housing crisis is only a crisis for a select number of people and how so many people are able to afford such expensive housing. It comes down to the fact that many people already entered the market long ago and has profited immensely from a red hot property market.

By trying to increase the supply quickly, the developers have been building super highrises, which is something politicians and voters were all supporting as well. Structural demand and complexities as well as construction costs start to increase per square unit area rather than decrease past a certain storey height, around past 12 storeys. So the 30, 40-storey condos you see actually cost a huge amount of money to build. The only way to make up for that cost on top of the money they had to pay to greedy landowners is to value engineer it even further into "luxury condo" territory to justify the price tag. That is because people generally stay away from basic, barebone properties that cost a ton, but luxury buyers care less about the price differences as long as it's offering something that's appealing to them. So yes, Vancouver's efforts to super-charge supplies has indeed backfired in an almost irresversible way.

​@@teasea546 they wouldn't run into the high rise construction efficiency issue if the city legalized low and mid-rises across the city

That's because due to city zoning restrictions, those are the only kinds of housing they're legally allowed to build with a decent ROI.

The issue is that housing has turned into a commodity. People who already have housing can buy more housing. Corporations buying up properties. These people then set the prices on rentals.

New Condo in Mapleridge. 2 br: $600,000.

and who do you think sold it to them.... a canadian

GreedyWhite Canadians sold them those homes because they want to retire with 7 figures

and that SHOULD be illegal. But. How do you prove one is a Tong? Or a Triad? then there are the civil rights lawyers and the laws against discrimination. Lee Kai Cheng (sp?) bought up false Creek after expo, and I understand HE is a Triad member, they make the H.A. look like choirboys. I think we are being taken over in more ways than one.

The data is publicly available. Statscan zhould be a neutral party and that's what he's trying to do here.

I'll have a good reply to write here, but because of the complexity of the topic, I'll need more time to assess the situation to determine what options there are if any moving forward. Please @ me in 6 to 12 months.

It may be a basic need, but it's not a right. No one is obligated to grant you anything.

@@shauncameron8390 When you deny a person a basic need you are asking for trouble. They may not be obligated to grant me housing, but it would be very unwise not to do so. When this changes from an individual to a mass, big problems will ensue. That is what irks me the most about this. The sheer stupidity of it. While individuals are increasing their incomes by 10 or 20 or 50 thousand a year we are all paying the extra costs in social services, more policing, extra medical costs and experiencing greater levels of crime. Homeless people do not respect the system or abide by it's rules. Why would they, after the system has let them down. Any sociologist or political scientist will tell you that as the number of homeless increases the societal cost increases exponentially. How much extra income is needed to deal with the trauma of having yor car or home broken into. Or heaven forbid something worse. Then there are the times that your heart races when encountering one of these people on the street or in your alley. I really don't see any winners here. In some way shape or form we all lose from this. As I said, no one is obligated to grant me anything. But it would be wise to ensure that my basic needs are met. And I haven't even touched upon the lack of motivation that many will have at working hard. Why break your back when you can't afford the rent?

2010 was pretty high due to the building of canada line and the olympic games, but it was still pretty cheap in places like richmond, coquitlum, surrey, langley, now even abbotsford is unaffordable

It started in 2003 when the Olympics were confirmed . My brother is an architect here and he said as soon as the Olympics were a go in Vancouver, he said Asian investors overwhelmed his office with new purchases and new development deals in the lower mainland and Whistler, completely destroyed Vancouver and it’s affordability. Sucks

that sounds like the opposite of the bubble bursting lol

In 1965, a 4 BR home with an in law suite on a 60 foot lot would sell for 22 thousand.. on Van West Side. Ten years later 80 thousand. Ten years later 280 thousand.Then years later 800 thousand, in 2005, 2 million. today 7 million. It is demand. Off shore investors weren't a big factor until Expo 86. Which is when that house was 280g. In 1965, and area pop lower mainland (everything west of Aldergrove) was about 870,000. today it is 2.6 million. So yeah, demand is the catylist

The biggest bubble burst was from 1968, to ap72. A 4 BR homoe on the West side in 1968 would sell for $33g. by aend of '69, same house would sell for $46g. in 1972, same house sold for $78,000. That's 3.6x in 4 years. Sathen there was a lull. Same house in 1978, $85g. 2 years later, same house $350,000. last time I looked, that was almost 4 fold. and the Asian investors weren't here yet. Let me say this one more time. Real Estate prices are demand driven. Price is determined by buyer and seller. . Nobody else.and God isn't making any more land. In Vancouver you have the north shore mountains, you have the US border to the south. Georgia Strait to the west and the Fraser valley on the est narrows to a close at hope. AND EVERYONE wants to live here. Do you see how this works??

It's not. It's capitalism. That's what we want right?

I find it really funny when someone says “this should be illegal” and someone else responds with “it’s not”. Like, yeah, we know. That’s why they included “should be” in there. Marlon’s position, of course, is absolutely correct. Also, putting aside the fact that capitalism is basically completely counter-productive to the health and happiness of humanity and the planet, limiting the amount of investment properties someone can posses has nothing to do with any other economic system than capitalism.

The homes with a laneway are expanding housing options, how is this a negative. People need to live somewhere.

Bought by CCP and their families

@@sheilamansell5634 it’s not a negative. It’s just not enough.

Believe me, most of us are very aware. I was born here in 1945. Seen a few changes. City government is a big factor in the demise of this once great city

This is what I’m trying to say in every video, they need an entire ban on foreign investments. But all these Chinese “Canadian” viewers just skip by those comments without a care because they know it on the inside

“Offshore “ investors is about as close as they’ll come to pointing a finger at the most populous nation on earth. They tiptoe around the reporter’s questions likely because her last name is bait they are afraid to “chew on.”

Obviously because of who’s asking the questions from her untouchable position.

And who do you think sold these foreigner the homes to begin with. FYI ....it was a canadian that sold it to them. Stupid greed. and then whine about it.

Not necessarily foreign investors, but new immigrants with tremendous wealth from elsewhere. Tons of those in Vancouver. Many places have low income tax and high income. Stack up on those $ for 10 years, come to Canada and buy housing. Locals can’t compete

It's always been like that in Vancouver and Toronto. Canadian investors have been controlling the market by speculating. Of course they are hiding it.

Yet 66% of everyday Canadians are home-owners.

The information gathered is not for our use, that's why it's collected but not shared.

making inferences and conclusions from data is tricky and requires a lot of subjective/objective analysis and prone to bias. As a statscan employee, he has to be very careful not to give opinions on the data as a flawed interpretation can bite back to him and his department. the statistics department is only supposed to collect and present data properly and comprehensively. Its the policy makers job to analyse and draw inferences and since he is not one of them, he is not giving any opinions.

What about higher land values? They're part of the reason for higher housing prices.

No kidding. We certainly haven't built more units then the number of people who moved into the city in the same time frame, so what the heck is he talking about?

The issue is supply AND affordability. The government needs to build non-profit rentals. I can't imagine that this issue won't impact Vancouver as a city.

@@ArtyMcFly Caused by zoning restrictions and high land values due to limited land availability. But there's no revenue in it as renters don't pay property tax the government is dependent on to keep the city running.

Increasing supply won't work directly to force prices down because housing is not ONLY a consumption product. Its also a speculative asset, especially here where as mentioned investment properties and foreign money stashing abound. As long as people believe that the market will go up (and upward population growth pretty much guarentees this) there will be GLOBAL interest in purchasing vancouver real-estate, something supply can never out-pace.

@@brsn2991 I'm starting to see more critique of allowing housing to be a speculative asset.

Wow nice to hear that

Wow I' m just shock someone mentioned expert Sophia I thought I'm the only one trading with her

She helped me recover what I lost trying to trade my self

@@akenemabresi Mrs Sophia guidance or strategy, your profit rate is 98 percent guaranteed and the minimum risk percentage is just 2 percent which is a rare happening in a long while now. I have been benefiting from her services for a year and half now.

she's really amazing with an amazing skills she changed my 0.3btc to 2.1btc

It's Chinese millionaires buying property as insurance.

This is false. Rent is cheaper.

In Vancouver, that is indeed the case. However, both are way too high, and the renters’ lower rate is actually much higher in comparison to their income/net worth than most investors’ mortgage payments, and that’s really more important than simply the numbers.

@@John-uk3wz no it is not? A mortgage is close to 3-4k on a 1 million dollar apartment.

@@joeisawesome540 i was paying 3.2k for a old run down house in East van with a few roommates. that 1.8 mill house would be 8,900 monthly mortgage 20 % down

@@richchay insane

They as in people who got priced out of Toronto moving in.

Taxed to immigrants, not to people born in Canada. You increase the taxes even more and you just create a situation where China can afford and Canadian citizens can't. People buying from out of country are the ones who should pay insane taxes.

@@Samuri5hit84 immigrants are absolutely not the problem. It's institutional investors that are domestic and international and the lack of building affordable housing.

Investing in Real estate is wise, and the taxes should be lessened. Investing in blue chips is wise. I think dividends and Capital gains taxed only by ten percent. Then guys like you would have more incentive to invest your hard earned money (assuming you don't work for the government) Investing in Mutual funds 's is wise. Not investing at all is exceedingly stupid

@@glenw-xm5zf real estate is a purely extractive industry and is essential for all humans to have. It shouldn't be a vehicle towards wealth and again, should be taxed into oblivion. All the other things you listed are great examples of appropriate investment. And no, I am a business owner.

@@frostman9661 Good you own a business. that takes courage. Here is how it should work. Investor purchases a diestressed property, maybe 90 cents on the dollar. THEN does some improvements, (it has to have the right things wrong ith it) Maybe they remove the thorny bush from the back yeard, paing fhe front porch, and spruce up the kitchen.. THEN thy sell the house at a price that covers the expenses, and puts 8-10 percent intheir pockets. The new guyer gets a home that is in better shape, SO win win win. the 3rd win is for first seller, who might have been facing forclosure. It works great.. but like most people, I don not like what is happening today. with people buying up blicks or proberty and then getting people to bid up the price. There are some very ruthless Real Estate sales people in Vancouver.. and hint: Most of them weren't born there

It happened throyghout history. When wealthy own entire city blocks, and poor reach a level of unable to improve status in life despite hard work, there is revolution for a reset.

Not just only pay and pay, like a lot of people did is to find ways to be way ahead of the game. There are many people be able to find ways to beat the mortgage and eventually own a house. It's all about knowing how you invest and how you do you money managements.

AirBnB's are one of the results of government restrictions making rental properties not worth the hassle.

Throw out the lefties. Eby, Ken Stewart et al. they are killing that city

LVT

Because he wants it to be that way! Why would he want his property prices to go down?

He's spoken and written a lot about alternatives! Find more of his content online.

This^. Premier Eby has told certain communities they MUST increase housing availabilities. It's obviously not the solution as is said here. Give incentives to businesses to move to small communities so people can find work in those places, places where you can buy a whole house for less than a Vancouver condo. Or find incentives for businesses to allow more work-from-home situations.

You can if you will stop it from deep freezing 4 months a year in Edmonton and Calgary, and Winnipeg..and Red Deer, and Prince George (both have hella crime rates) and also stop the snow from piling up in Cranbrook.. but that aint gonna happen so everyone wants to live HERE, or in nanaimo, or Victoria, or Courtenay, or etc. All you need is a million bux and then you han buy a condo there. Twice that for Vancouver. It cannot be fixed

@@Sqmsh_Patricia EBY needs t keep his nose out of business.Especially Real Estate. He has no clue, and has zero business acumen. So sad he got elected. Bonnie Henry is worse, and Vancouver's mayor is worse than any of them. I cannot remember when they ever had a good one. Throw out the left and then watch what happens. Since they got in, the misery index only goes higher. AND, as long as they are in, it will only get worse. The homeles and DTES is a total mess, as is the soft on drime city government. The violent ones are out 2 hours after they are arrested, to attack someone else with a hammer. and Kennedy Stewart wants to DE fun the police. Do you see anything wrong with that picture??

High immigration is compounding the problem.

​@@ironhammer4095to a certian point. but when prices are so unaffordable for us. how are people from India, Thailand, or Africa supposed to come and spend more money on 1 year of rent than their entire family makes working for 10 years

@@fallingpizza11 because the elites running the country want to extract money from you (via rents) and to keep the wages down. That's what your purpose is. They don't care about you except to extract work out of you cheaply and then extract your wages from you via rents. That's what they're bringing you in for.

Or they could stop selling the entire place out to Chinese Hong Kong foreign investors and speculators that do nothing more than Park their money here gut out neighborhoods and communities and leave the whole place garbage

@@3to1media Then ban investor immigration.

Majority of housing are still owned by older white people

@@tylerking5214 And 55% of people in the Greater Vancouver area are home-owners. Renters are the majority only in Vancouver proper.

I have a friend ( who immigrated to Canada 9 years ago from Europe) complaining UBC has been occupied by mostly Chinese students and he forgot Chinese can be Canadians too. That explains why people only call me 'Chinese' even I have been living in Canada for almost 50 years. If I buy a house, people will say ' the house was bought by a Chinese'.

Ya who’s to say that they are buy on their behalf

How about like zero

The funny thing is that lots of "investment properties" are actually now being owned by actual businesses, and run purely for large profit.

I like that idea. A home to live in. Period. Make your millions off your neighbours some other way, but NOT by jacking up house and rental prices.

This makes no sense

Exactly goooo USA

Bye Bye ;)...

@@moomagpie4265 way ahead of ya. Four exit plans in the works. Letting the Universe decide which I land on.

I'm happy in Colombia 😊

YES THATS WHAT IM SAYIN!!!

So much for Valerie Plante being the answer.

sadly those two roll limits didn’t apply to the wealthy, there are always loopholes for the rich

we are a free country and it happens every where in the world.

@@chrthewrestler2301 1, Canada is not a free country. 2 No it does not happen everywhere in the world. 3, Investment properties should be BANNED.

@@district5198 canada is a SELF PROCLAIMED a free country. name one country or big city that is not happening. i guess you don't read news of other countries and never been to any of these countries. investment properties are NOT banned worldwide and cannot be banned.

@@chrthewrestler2301 self proclaimed free country only! And yes their are plenty of countries world wide that ban investment properties. This is nothing new and needs to be done in Canada.

I agree. The people that have them don't even need them.

this is simply not true. Here is quote from stats Canada : Beginning with the Greater Vancouver Area, 4.8% of residential properties are owned by non-residents What you are saying is simply not true. Most properties are owned by Boomer generation. I am sick of tired of people blaming others instead of looking at themselves. here is another stats: 40% of boomer homeowners have at least half of their net wealth in real estate 17% of boomer homeowners currently own more than one property. 66% of Canadians own their own property. 64% of boomer homeowners are mortgage-free Here are the facts. If you want to bring up foreigners mess up demand bring up the stats don't just make up random things to blame others.

@@Entuaka highly unlikely to be the majority... Maybe 5% of the total units.

@@Entuaka unlikely after BC introduced its higher vacancy taxes.

Yes, and it's super problematic because the people buying the properties as investments don't have the same needs as those who will eventually be living in them. It's happened in a number of places in Toronto - areas over flowing with studios or 1 bedroom condos (because that's what many investors are willing / abls to buy), but hardly any larger units that are needed for families.

As the guy stated it's not the rental property that's the problem. If more rentals were good then there wouldn't be a problem. But because they are "investment properties" people jack up the rent to make profits so they can purchase more investment properties. And that prevents people who want to purchase homes from being able to afford them. Listen to the video next time.

Your point? Spit it out!!

And who do you think sold them the property to begin with A CANADIAN. gesh. sold to make greedy money and then whine that its too expensive. you can thank a canadian for that.

LOL couldn't be more wrong. Montreal is the second biggest metro for starters.

@@CommoditySC But Montreal is nowhere nearly as expensive as Toronto or Vancouver and it's not even among the top 15 most expensive places in Canada to live.

@@shauncameron8390 Following me around youtube i see

Plus, 89% of the land is Crown-owned and apparently Canada has to ask the UK for permission to make use of it.

The biggest problem in North America is car centric policies such as restrictive simplistic zoning and parking requirements. Zoning as done in the US discourages the natural formation of dense mix use walkable neighborhoods in favor of car dependent ones. This makes housing and transportation much more expensive. More land is needed for this type of development. More energy is used daily for simple tasks like going to work, school, getting groceries, etc. In US and Canada, medium density development is seriously lacking - you either get Skyscraper cities like NYC or suburban car dependent sprawl. Although Europe is much better, they also have issues with overregulation. They allow density but only to a certain extent, preferring medium density as opposed to high density. They still limit the size of building, the boundaries of cities, and architectural esthetics. Europe lacks in high density areas like in Asia and North America. All of these government regulations adds to the cost of housing.

@@Basta11 Like every other US city. LA, Houston, Miami, etc. But many Asian cities are suffering from overcrowding and poor air quality.

lol. you are clearly not in economics.

@@jacksoncn lol you clearly believe the rules of economics are natural immutable laws of the universe and not a human invention.

150k people coming to Vancouver a year and 2400 housing starts a year which take longer than a year to complete. Yeah nothing to do with supply. What politician wants you to believe it is a supply problem? They all want to scapegoat foreign buyers, speculators, empty homes, resident investors, underused housing, and the 1%. Addressing the problem would actually take effort and politicians aren't about effort.

@@walnutcontractors5661 the lack of supply doesn't increase the housing costs a penny. What it does is that it creates a situation where the buyers are willing to pay more out of necessity, and the sellers just take as much as they can. There isn't a single reason for the lack of supply to increase costs, other than allowing for the possibility to exploit necessity.

@@MoisesEsquiroletTell me you've never taken an economics class without telling me. Look at places that have no demand - the rust belt in the us - you can get a house for free ! Lots of supply / no demand turned into free housing ! They are literally tearing down houses and turning them back into forest land. You can use policies to prevent lack of supply changing demand but I think you need to move to a different style of government first / quicker to change countries.

Born-and-raised Vancouverite and I currently live in Vancouver. The city is overhyped, overpriced and overrated. Drug and addiction capital of Canada. No livability and sustainability along with no affordability for hardworking and taxpaying local citizens. Vancouver has become overcrowded and extremely transient. Not the down-to-earth Canadian city it used to be.

no one asked you to home boy.

Then leave cry baby

Why is our immigration so high

@@KenGold666 I don't know, ask Trudeau. To be fair it started already under the Conservatives to a lesser extent.

@@KenGold666 because they want to replace you, wake the F up

@@shauncameron8390 Is that a slur? The houses I saw were in suburbs on the Eastern seabord.