Quote:
Originally Posted by Alpine
Here's a summary I found on reddit about our global wealth situation.
"There are parts of the world that even with infinite money you can’t buy.
Fortunately in Vancouver you just need 5-10 million or so which is far from infinite.
As follows:
Political stability (~middle eastern oil barons~ our Persian friends looking at you!)
Fearful of Chinese ? (Well come on over HKers we had homes ready for u since 1997!)
Fearful of Chinese takeover? (We got one for you too Tw! Mmmm Fraser heights is good, or try Burnaby or Richmond even!).
Israeli family who don’t want to family to be in war zone? We’ll come on over ! We got Jewish community centres at Oakridge lots of room.
Geopolitically distant from war zones. (My Russian oligarchs hello sir does your son want a home here?)
Far from potential nuclear threats “deterrence” (Kim Jong… , come my fellow Koreans! We have loughheed, guildford & Coquitlam. Options to choose from!)
My fellow south Asians. (0.1% of Indian is heck of a lot of friends. Come we have Indian food, Indian politicians, and a whole city just for you! Winking Face)
How can I forget about the Chinese, (Heck one of our biggest Chains is T&T, we 0.1% of a billion is ~ btw I hear you only get 99 year leases in China, how would you like FREEHOLD!)
Chinese facing persecution? Would you like to practice yoga without worry of your organs being yoinked? Welcome welcome!
How can I forget about our rich southern pals. 2-3 of our biggest developers are American! Come on over~ tax treaties right up your ally, make those US bucks & US salaries and spend on our economy housing. Or just work in America and send your family over ! Dw we won’t go after you for Canadian “ tax residency “brackets wink wink.
Might I add I don’t think there are many western cities in The world where you can speak: Korean, Chinese, Punjabi, Hindi, and not have to learn fluent English to enjoy daily life ! We won’t force you to learn it if you don’t want to!"
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Some guy on reddit posts on every real estate thread that more supply is needed to help cool down prices.
I call BS, what will more supply mean? It means the rich will still continue to outbid the regular folk for these new properties, trade it other incoming "investors" for profit, and continue charging us rent to pay for the mortgages they don't even need.
Some people don't understand how much money some of these people have. They possess more capital and power than the top 10 bidders of every sale property in Vancouver combined.