Quote:
Originally Posted by UFO
Yes, all smoke and mirrors because that's what I said, you're not taking anything I said out of context at all. I'm not saying there is no foreign money influence, there clearly is, but its not the overriding issue with our housing prices. Having said that foreign money and it's reach to every other part of our 'economy' in consumption spending cannot be ignored.
Though this is an opinion piece, its has been well thought out about what is and has actually been happening. And also about how the masses have generally responded to the largely media driven (IMO) hysteria over the past several years. But it won't draw much publicity because it doesn't get locals all riled up, and overall not very sexy.
Explaining Vancouver real estate: a 10-step alternative to the foreign-buyers narrative | Georgia Straight Vancouver's News & Entertainment Weekly |
The narrative often repeated here and on other forums is that if it weren't for foreign money, Vancouver would have remained the backwater it was in the 1970s and 1980s. The children of blue-collar parents would be able to buy a detached home in their neighbourhood of choice for 2-3 times the average family household income.