"A farmer, an engineer, a furniture maker and a caterer are among the 30 hopeful investors "
"“They stay in four-star hotels, eat $30 meals,” Mr. Zhang said. “I am not sure if this is a really high standard in Canada, but in China it is only affordable by the upper class.”
This proves that it is a myth that only multi-millionaire / billionaire Mainland Chinese are coming here to outbid us lowly poor Canadians for $2M-$10M++ properties. China is still a very poor country on the whole - the quote above from the investor group organzier says it all - a farmer, a caterer are considered "UPPER CLASS" in China because they can pay for "$30 meals" !!!! We've already got farmers, caterers here and they can't afford a West Side house or much of anything else in Vancouver !!!!! And they are sending 30 of them to BOTH Vancouver and Toronto - WOW! A whole 30 - that's 2 1/2 DOZEN!!!
So much for the "wealthy Mainland Chinese" myth. Again, I do not doubt there are some wealthy Mainland Chinese buying some West Side homes - but this proves that is a rarity and the VAST majority of Chinese are VERY POOR - it is a developing country that is just coming out of decades of poverty ridden communism - what do you expect???
