This!!

News of the day.... 'Tenants on our own land': New Zealand bans sale of homes to foreign buyers! When is BC going to get ITS act together!??

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It's not...

Aug 15, 2018 at 12:41pm

... mostly foreign buyers, it's immigrants with legal residency or citizenship. Go ahead, let the internationally-controlled media dupe you. The only thing that will fix our housing situation is to throttle back immigration to before "massive immigration" became a campaign plank for all of the major parties.

Immigrants settle mostly in Vancouver, Montreal and Toronto. That is what is going on, not "Foreign Buyers."

Mitch

Aug 15, 2018 at 2:25pm

New Zealand is 28% of the size of BC....They also had Billionaires buying hundreds of acres to build fallout shelters....

7 18Rating: -11

@ It's not

Aug 15, 2018 at 3:59pm

Make sure you make as many babies as you can that look like you.

Lol

5 13Rating: -8

Devil's Advocate

Aug 15, 2018 at 4:43pm

Personally, I don't blame foreign buyers at all. I blame all the people who feel like they "need" to be in the market and who just throw money at sellers so they can fulfill their dream of being homeowners at any price. If it weren't for you panicked people and the media that reports on them, the value of property here would still likely be expensive, but not as unreasonable and unattainable as it is now.

15 6Rating: +9

Fact checking

Aug 15, 2018 at 8:37pm

The New Zealand government banned the sale of the EXISTING stock of houses to foreign buyers (what?!?!? not everything!?!? horrors!!!)

In 2017, The Economist (you know, the publication that publishes the "most livable city" survey each year) reported that New Zealand had the most unaffordable accommodation prices in the world (what?!?! not Vancouver!?!? but that is contrary to my anecdotal beliefs!?!? heavens above?!?!!? then what fake fact will I cling to next!?!?!)

Auckland prices climbed 75% in the previous four years, although the market cooled recently (what!?!? economic cycles exist!?!!? that must be fake news!?!?!)

In New Zealand only 25% of adults own accommodation, a percentage that fell from 50% in 1991.

16 5Rating: +11

@Mitch

Aug 15, 2018 at 8:39pm

What does your comment mean? Oh right, just a brain fart. Now, I understand.

15 5Rating: +10

Hey @ It's not

Aug 16, 2018 at 8:49pm

The problem is not immigrants. The problem is immigrants who misuse resident status to buy property for investment, not move here, live here and contribute to the economy. We should limit purchases to all who live here full-time, not live here part-time. Like, those who are newly resident status have to have lived here ten months of the year for the first five years back-to-back to qualify. That is, unless they sink some serious coin into a housing fund to offset their impact (take that one to City Hall & The NDP).

2 1Rating: +1

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