The Canadian and British Columbia governments are complicit in fueling Vancouver’s housing crisis as foreign Chinese buyers continue to shut local residents out of the market, a new study says.
Josh Gordon, the study’s author and assistant professor in the School of Public Policy at Simon Fraser University, said people’s dreams of owning a home are being crushed because they can’t compete with foreign investors and no longer accept “distraction” excuses such as low interest rates for the state of the super-heated market.
“People recognize what’s going on, and they’re willing to call a spade a spade,” he said, stressing that such views are based on reality, not racism.
Study argues foreign buyers are crushing Vancouver home dreams as governments stand by
Our take: A combination of real and exaggerated foreign pressures combined with historically low interest rates have caused locals to try and complete with local speculators and foreign investors causing an absolute flurry of buying of single family detached.
