Quote:
Originally Posted by squiggs96
The people that are investing in houses and using them as a bank account don't care if they have one house or three, as long as the return on investment is there. In Vancouver you get an increasing market, whereas in the States you get a decreasing market. In California you could own two houses, but that just means you have two houses going down in value instead of one house in Vancouver going up in value.
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Except you have described exactly the investment philosophy that drives bubbles; buying something simply because the market is going up in value, without any intention to live in the home, rent it out, or otherwise derive any productive value out of the asset.