[MarkyMark]

Originally Posted by UFO

But you're not being outbid by foreign buyers. You'd be outbid by locals who have compromised on where they want to live to live the lifestyle they have decided on, compromise would be the key word. You don't want to drive an hour each way to work, fair enough. You don't want a tiny shoe box condo, fair enough. You don't want to pay market value to buy a place that meets your needs, sorry it doesn't work like that.

Compromised is the key word you're right, they compromised because their first choice was taken away from them because someone who made their millions elsewhere swooped it away from them. I'm well aware what the new normal is, I'm just choosing to speak up about it instead of just accepting that the inflated market value must stay the same, when it doesn't.

That's what the media want you to believe, because it makes headlines and gets people all worked up. Sure, there some domino effect as you explained above. The biggest factor bar none are the historically low interest rates, which have been sitting way down here for a loooooong time with no short term meaningful increased planned. Blame your competition for signing up for mortgages that maybe they should not be signing up for, but being cleared for by the brokers. But putting the accountability back on the locals, nobody wants to hear that. It's way easier to blame those other people

Right it's all smoke and mirrors, the data is all wrong, no one is using Vancouver real estate to park their money. Why are home owners upset about this tax then? If foreigners aren't the problem and it's just locals bidding each other up then nothing will change anyways.

Easy to say now, but if you buy a place, and it drops 60k before you move in, you're going to be pretty pissed.

If you can't afford or don't want to buy in right now, and you can buy in next year with a 60k price increase, something is off there.

If prices continue to rise at this rate then no, I probably won't buy at all. I'm banking on this tax to at least flatline things for awhile. But who am I kidding, with interest rates this low locals can afford anything. Perhaps I should just max myself out and hope that interest rates will stay the same the next 25 years.

We need to look at the big picture, not just housing and home pricing. How many more high end cars do you see on the road today compared to 10 years ago? High school kids drive around in 'beater' G35's nowadays compared to Civics and Corollas from the 80's. Where do you think people go to buy these cars? Who do you think services and fixes these cars? The same applies to many 'industries' outside automotive.

You're right, I'm gonna start a go fund me page for Brian Jessel right now he's gonna be in trouble soon.

Hey, I totally get where you're coming from, you should be able to buy something nicer and closer than what you realistically can right now. But the government having an influx of foreign money in many ways does help put it's people first, you just need to look a bit deeper than what the headline news is telling you. Because these foreigners may be the source of livelihood for many locals who are barely making ends meet right now, ever think about it that way?

So which is it, locals bidding each other into record high prices due to low interest, or foreigners being the backbone of our economy now with their empty houses and flashy cars? Do you honestly think that housing rising as fast as it is will be good for this city in the long term?