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Why our real estate is so expensive

Discussion in 'General Discussion' started by milquetoast, Nov 10, 2014.

  1. milquetoast

    milquetoast Senior Member

  2. Walker

    Walker Guest

    There are lots of places in the world that also look great from a distance (on a nice day.) There are other reasons why Vancouver's RE is 2,3,4 or 5 times more expensive than many other places.
  3. I'm not joking!

    I'm not joking! Junior Member

    Is all about taxes, I don't know if You are asking or trying to justify with retouched pictures, the imesurable overvalued buildings made of wood and cardboard, but is part of the mechanics of the government and the real state companies to inflate the price of property and that way to get more taxes in a province in which Your home has become a prison since taxes are so inflated that is not posible to go out for a short trip and have a well deserved rest like Our Prime Minister and our Mayors of each District and City in BC who in turn take long trips with Our money. :'(
  4. luluton

    luluton Guest

    this is why
    [​IMG] [​IMG]
  5. Shrek

    Shrek Junior Member

    I have always heard it is a lot of foreign investment that is driving up the prices here in BC.
  6. milquetoast

    milquetoast Senior Member

    That's the prevailing sentiment. It's been shown across the world in Australia and the USA which has affected their policies through buyer restrictions and foreigner taxes. Canada, as always downplays the problems and is slow to react while the world takes advantage of us and locals suffer.

    So far all the "research" for Canadian markets like Vancouver and Toronto show that foreign ownership rates are low. However, the studies have been flawed with poor methodology. For example, one study by CMHC (Canada Mortgage and Housing Corporation) called property managers who would count how many foreign addresses were listed. This doesn't take into account foreign buyers who have addresses in Canada which is common practice. Clearly the true number of international buyers is underrepresented.

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