Quote:
Originally Posted by whatnext
There's a good rundown on what other jurisdictions around the world do to combat runaway foreign ownership in this article:
http://www.rew.ca/articles/240 |
The first part of the article tries to define the problem (if there is a problem):
http://www.rew.ca/articles/is-china-...ancouver--238/
Reading this article it sounds like a large portion of the off-shore money is either after $2 M and up properties or they are in fact people who plan to move and live in Vancouver. The article also identifies the recent agreement that permits people from mainline China to more easily travel to Canada as a driver for some of the activity. That sounds like legitimate demand. I think we should be welcoming of new immigrants and investors from China or other countries. It adds to the cultural mix of Canada.