Re:The anti-abundance critique on housing is wrong
by __turbobrew__ on Saturday August 02, 2025 @12:26PM
(#44768907)
> only 30%
That is a huge amount. I don’t blame immigration and foreign ownership as the only issues with Vancouver prices, but 30% of housing stock being owned just by Chinese population is massive. I knew several people who were Chinese nationals and owned a factory or large business in China and then bought a $4 million home in Vancouver. I don’t have any personal issues with these people and I befriend several, but I also realize that foreign capital from the richest residents outside of Canada were out competing locals.
Another thing to consider is that a large number of foreign nationals buying real estate in Vancouver come from countries that have strong capital controls (China, India) whereas Canada has basically no capital controls which results in a pretty onesided trade relationship.
That is a huge amount. I don’t blame immigration and foreign ownership as the only issues with Vancouver prices, but 30% of housing stock being owned just by Chinese population is massive. I knew several people who were Chinese nationals and owned a factory or large business in China and then bought a $4 million home in Vancouver. I don’t have any personal issues with these people and I befriend several, but I also realize that foreign capital from the richest residents outside of Canada were out competing locals.
Another thing to consider is that a large number of foreign nationals buying real estate in Vancouver come from countries that have strong capital controls (China, India) whereas Canada has basically no capital controls which results in a pretty onesided trade relationship.