The discussion in another thread got me to thinking:
What is CP's opinion on the huge influx of offshore asian real-estate investment in the Vancouver region (GVR) that has created an environment such that the hard-working Canadians who live there can't afford a decent home?
I don't live there, but it pisses me off, so I wrote the following to my MP:
Mr. Anders,
As a member of your riding I implore you to use your newly-minted majority government to put some limitations on foreign ownership of Canadian property, which harsh consequences for those who try to get around it (ie shell Canadian numbered companies used to buy property). I have family and friends in the lower mainland of BC who are unable to afford a house anywhere near that which their parents had, due to offshore Asians using our real estate as nothing more than a glorified piggy bank. It is making it impossible for an ethical, hardworking Canadian (be they white, black, brown or aqua skinned) to afford a home in the GVR.
I am afraid this is just the beginning of a problem that will wash all over our great country, as I have a few friends who are real estate agents and they are getting a lot of inquiries from foreign Asians investigating the purchase process for condos in Calgary and Edmonton. There are estimates that upwards of 20% of Vancouver’s condo are empty, simply purchased as safe-havens for illicit, offshore Asian money.
Please let me know what our fine, upstanding government is planning do to curb this problem, before it affects more than just the lower mainland.
Respectfully, The SCUD
It isn't effecting me right now, but you could certainly see them exhausting Vancouver and moving to a lucrative city like Calgary (probably not a hole like Edmonton
)