Dirty money driving up B.C. home prices as more than $40-billion laundered across Canada in 2018
theglobeandmail.com/canada/article-money-laun...
theglobeandmail.comPosted Jul 8, 2019, 10:45 PM UTC
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theglobeandmail.comOn the one hand, it only accounts for ~5% (per article). On the other hand, on $2000/month rent, that is $100/month or $1200 a year. On a $1.5m house, that's $75k. That's a dumpster truck of money when multiplied over the whole city
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Hey look, people in BC blaming housing prices on something besides Chinese people.
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The housing situation here in BC has been pretty much the primary driver in my radicalization. From "the market is overheated, but it'll correct soon" to "I think some intervention might be necessary here, this can't be sustainable" to "you know, Mao had a lot of good ideas and I think it would be a mistake to dismiss him out of hand". Vancouver is a giant monument to failed ideology.