There's been a lot of speculation regarding the increasing real estate prices in Greater Vancouver lately, and now Andrew Weaver, BC Green Leader, is suggesting a ban on foreign buyers altogether.
I've read articles stating there may be an over emphasis on the amount of foreign money coming in and how it actually isn't driving the real estate market prices up as much as some may think.
The bottom line is affordability is an issue in Greater Vancouver, and people are being forced to either move further away from their cities, or continue the daily struggle of living from day to day with the dream of owning a home, slipping away.
In my opinion, the government and municipalities aren't addressing the crux of the problem. There's a supply and demand problem right now. This isn't a new problem either. Real Estate cycles. We have decades of experience and have seen real estate double in prices every ten years historically, which is about pace with current pricing.
We're interested to see where this one goes. We'd love to hear your comments.