Quote:
Originally Posted by Yume-sama
 For what, exactly? How many dern fereners are buyin' all our condos? 
I wasn't serious... rather semi-obviously. But jlo has posted statistics in the past that peg foreign ownership at less than 3%.
The rich foreigner myth is a bit of a media-driven lie, and the ones who do come aren't usually buying homes your average person could even think of affording (multi-millions).
Sadly I'd bet their new drug money theory has more grounding in reality than rich foreigners trying to buy Vancouver. |
Ah, thanks.
As for the impact of drug money on RE prices, here, I also think that it is overblown. I know that some have claimed that drug money is laundered via real estate, but is that true? I mean, if I walked up to a real estate agent and said, here's 500K cash for that condo you're selling, would that not raise a red flag somewhere?