On: The Canadian Housing Boom Fueled by China’s Billionaires

[FreedomToCreate]

A running joke in Canada is that BC stands for "Bring Cash". This is what happens in a completely unregulated market. Good in the short term, disastrous in the long.

[ido → FreedomToCreate]

Isn't BC vast and mostly empty though? Last I looked purchase prices in Vancouver island (aside from Victoria maybe) were about the same as or lower than rural areas in Germany.

[bb101 → ido]

95% of BC is Crown Land though - either reserved by the government, covered by fresh water or designated agricultural-use only (ALR). Only 5% is available as private land.

A useful overview map: http://40.media.tumblr.com/2410fe72393357ea0b00f50272065562/...

[serge2k → ido]

So people should just go live in the woods?

[_3u10 → serge2k]

What do you think Vancouver was before we poured bitumen all over it?

Also the idea that people in Yaletown/Gastown should go live in old factories and warehouses seems to have just fine.

[ido → serge2k]

Not what I meant, was just saying it seem to apply mostly to Vancouver (maybe Victoria, to a much lesser extent) and not BC as a whole.

But that's not how jokes work I guess!

[jonknee → ido]

But that's where almost all the people live. BC is a huge place and it's almost all uninhabited.

[ido → jonknee]

Yes, that's what I said above about BC being "vast and mostly empty" (and also inexpensive).

And so FreedomToCreate's joke should still be about Vancouver, not BC.

[jmspring → FreedomToCreate]

It's racist, but after Hong Kong and Macau, Vancouver was readily referred to as Hongcouver.

The money spilling in from Asia has been going on for a long time. 16+ years.

[lpaone → jmspring]

The difference is that the first wave of foreign money that came into the city was from Hong Kong. Generally a lot of these immigrants started businesses in the city and contributed to the economy. This is not the case with the current influx of cash. Houses are sitting empty and there is evidence that it is really hurting the economy.