Re:New Zealand to ban foreigners from buying existing houses
by c-smile on Thursday October 26, 2017 @08:37PM
(#15564584)
That's true.
Yet I've heard from one realtor that in some suburbs of Great Vancouver 15% of properties stay empty - pure investment.
Vancouver is not the city to live in anymore. Problem is that it is not the city to work in too. Too long commutes - 2 hours to spend on road. That means work day is not 8 hours but effectively 10. That means people asking and company offering higher salaries.
That housing situation hurts all other businesses except of real estate quite a lot.
Yet I've heard from one realtor that in some suburbs of Great Vancouver 15% of properties stay empty - pure investment.
Vancouver is not the city to live in anymore. Problem is that it is not the city to work in too. Too long commutes - 2 hours to spend on road. That means work day is not 8 hours but effectively 10. That means people asking and company offering higher salaries.
That housing situation hurts all other businesses except of real estate quite a lot.