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A comment on The Canadian Housing Boom Fueled by China’s Billionaires. Parent comment

Re:The Canadian Housing Boom Fueled by China’s Billionaires by jmspring on Wednesday August 03, 2016 @01:44AM (#12215865)
It's racist, but after Hong Kong and Macau, Vancouver was readily referred to as Hongcouver.

The money spilling in from Asia has been going on for a long time. 16+ years.

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Re:The Canadian Housing Boom Fueled by China’s Billionaires by lpaone on Wednesday August 03, 2016 @01:57AM (#12215901)
The difference is that the first wave of foreign money that came into the city was from Hong Kong. Generally a lot of these immigrants started businesses in the city and contributed to the economy. This is not the case with the current influx of cash. Houses are sitting empty and there is evidence that it is really hurting the economy.
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