Quote:
Originally Posted by opendoor
More clickbait content to rile up the uninformed. Real breaking news there:
Virtually every square kilometer of BC is covered by (sometimes overlapping) land claims and has been for most of the last few decades. This is standard procedure in BC where First Nations claim Aboriginal Title over large areas in order to seek compensation. And in this case, they're not even claiming private land, only government land.
On the bright side, maybe some people will panic sell and houses will get more affordable in BC.
|
Yup, the Richmond case was ongoing for more than a decade I think? Funny the spotlight came on it recently and it's now in the news.
These cases have been going on for years and the appeals will continue to go on for more years if not decades. I'm sure the ongoing uncertainly will continue to linger as it drags out. Might be a good buy if you have the lump sum in cash up for the risk with mortgage lending and financing in limbo in the meantime.
The City made a statement yesterday about "vigorously defending public ownership" which is why it's in the news. I'm sure more cities (and the public) will be reassessing and future purchases as we go from Richmond, to Kamloops, to Port Coquitlam and so forth. It'll be an interest watch now that people are more aware of the ongoing litigation and potential risk.