Is the Vancouver real estate market being driven by foreign buyers? At least one former city councilor seems to think so:
Peter Ladner says Vancouver’s home prices are out of control, and with China and Australia already restricting foreign ownership, Vancouverites should at least examine whether the idea makes sense.
Tsur Sommerville thinks it’s a non issue:
“If you go back to the 1980s, and the worry about Hongcouver, and all these kinds of things, Vancouver has been through this story before and I think most people think this city is better off now than it was in 1987,” said Somerville.
Full article at the CBC.