Re:The majority of 18- to 29-year-olds in the US are now liv...
by thinkharderdev on Wednesday September 16, 2020 @02:54PM
(#24496107)
I've never quite been able to figure out what happened in Vancouver. It's a great city with a tech scene but salaries there seem very low (by American tech worker standards). Who is actually buying all these multi-million dollar bungalow? None of the senior-level engineers I've worked with from the area would ever be able to even sniff being able to afford that.
Re:The majority of 18- to 29-year-olds in the US are now liv...
by dmitrygr on Wednesday September 16, 2020 @03:29PM
(#24496551)
Chinese bureaucrats looking to park some money outside china's financial system. Some west coast cities even instituted special taxes to try to prevent this.
https://www.wsj.com/articles/for-chinese-home-buyers-seattle...
https://www.businessinsider.com/middle-class-chinese-buyers-...
https://www.marketwatch.com/story/chinese-investors-buy-more...
Re:The majority of 18- to 29-year-olds in the US are now liv...
by jwiz on Wednesday September 16, 2020 @03:24PM
(#24496473)
At least one theory is money laundering.
https://themobmuseum.org/blog/chinese-triads-launder-billion...
Re:The majority of 18- to 29-year-olds in the US are now liv...
by square90 on Wednesday September 16, 2020 @03:37PM
(#24496670)
I think it's been heavily bought up by foreign real estate investors [0].
[0] https://vancouversun.com/opinion/columnists/douglas-todd-chi...
Maybe the Bay area, but that's (sadly) not the case in places like Vancouver and Victoria. Sky high property prices, but no corresponding earning potential.