You can't buy land in China.That's quite racist. and exclusionary too
See - the Chinese are racist and excusionary too! So who cares if Canadians are ... Have to fight fire with fire. Stop with worrying about politically correct and take care of Canadians - no matter their race.You can't buy land in China.That's quite racist. and exclusionary too
I can't pay my staff $2.50 an hour.
The least we can do is protect our peoples ability to put a roof over their heads.
this seems to be a very common belief that foreign billionaires buy high end property and let them sit empty or have wife and kid there. Chinese seem to be the target.This racism point of view is ridiculous.
Canadian real estate should be for Canadians not for foreigners! The fact that our government allows dirty corrupt laundered money to buy Canadian real estate is the problem. Racism is not. Law abiding Canadian citizens can't compete with China.
Chinese companies pay their employees low wages. There is no such thing as benefits, pensions, unemployment insurance. They also pollute a lot, have no safety standards, no mininum wage laws, overtime is expected but not paid and they use underage children in their workforce. The owners of these companies bribe government officials so they pay very little income tax. This is why the owners are very rich and can afford to buy multi million dollar houses in west van and Canadians can not. If you are OK with this then you are an UnCanadian as our politicians! I personally am disgusted by it. If Canadian business owners operated like this they would be in jail long before they made enough money to buy a house in Vancouver. But, since they are foreigners nobody questions how they made their money.
And yes I am a home owner. You talk about Canadians being entitled to own homes but the entitlement I keep hearing is about Canadians who feel entitled to their equity. They feel entitled that their homes should go up $100,000 per year indefinitely. They don't want our politicians to anything to reduce their home equity. The only way I make them see my point is when I ask them where will their kids live? Then I get the "oh shit" blank stare and then they shut up.
Rant over. Have a nice day
If you are making 200K a year, then you CAN afford a house in the immediate LM (Burnaby, Richmond, New West, perhaps even some parts of Vancouver), even with a moderate downpayment. That you choose not to buy that house (for whatever reason) is not the same thing.Not everyone should be able to afford a house. I agree with that. But, if a family is in the top 10% of earners in Vancouver city (say $150K - $200K a year income) and they can't afford a house that is a problem.This is caused be foreign money not local incomes.
I have friends living near Seattle & Portland. They earn $100K total family income (work part time) and a house is 500K - 600K. That same house in Vancouver is 1.5 million.
Trickle down effect is causing prices to go up very high even in Langley.
What's your advice to a 15 year old kid without an inheritance who was born in Vancouver?
Would you tell him that even if he is a doctor he may not be able to buy a house where he grew up. Foreigners own everything so you may as well leave the city/country. Sounds very Uncanadian to me.