One Hundred Thousand Chinese Millionaires In Vancouver Send Property Values Through The Ceiling

East has More Gold, About to Takeover Price Fixing in Gold/Silver – Bill Holter of JSMineSet.com

 

 

 

 

 

 

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One Response to One Hundred Thousand Chinese Millionaires In Vancouver Send Property Values Through The Ceiling

  1. hirundine608 says:

    This was the headline in this morning’s newspaper.,The Province. However it was claimed the millionaires were in a Province of China, not Vancouver. The amount of offshore ownership of lower mainland properties has pushed the Provincial government into finally doing a little to ease the pressure on local buyers, mainly younger adults. Who need to live here for their jobs. Whereas the offshore ownership has created a vicious cycle of property sellers cashing in on high prices and then descending on cheaper markets, outside the lower mainland. So throughout Canada this has had a rebound effect of un-affordability for the young owner. This has been going on for over ten years. Finally under some pressure. A government realizing if they did nothing, They would be dooming their re-election chances. The response was a 15% tax on sales to foreign owners. A response that is both too little and far too late. A !5% will just see it passed along, as they flip the housing.

    Why is it that I had to earn my citizenship of Canada. Whereas these people are not only taking advantage of their own people, using them for slave labour. Are also rewarded; with being able to dictate housing prices, to the locals here?

    The government party takes in big revenue from property companies, like REMAX. Helping to swell their party coffers. All at the expense of the taxpayers tehy are supposed to be serving.

    Like

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