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While folk are debating solutions for our  problems, blaming foreign money and our immigration programs as the main culprits such as this article –  Toronto, don’t let Vancouver’s housing crisis become yours .  Whereby Josh Gordon, an assistant professor at the Simon Fraser University School of Public Policy writes about (and invited a lot of heated arguments): – Concern about foreign capital is xenophobic or racist Rising prices are all about low interest rates There is no data The problem is all about supply We want foreign “investment” Canada created history again. According to HuffPost, Canadian Home Prices  Growing Faster Than All But 2 Countries : Knight Frank Huffington Post Canada Bank of America Merrill Lynch noted just months ago that interest rates are the  lowest they’ve been in 5,000 years .

As a result of damning allegations such as this, How Foreign Investors Are Using Drug Cartel Tactics in the Canadian Real Estate  Market VICE  – ‎Jul 25, 2016‎ Canada’s freakshow real estate market has been drawing a lot of international attention as of late. A few weeks back I talked to an infamous Wall Street short seller who is betting against one Canadian  mortgage lender, and claims our housing bubble may … Image Source And overwhelming public complaints like these, Metro Vancouver father blames housing market for ‘working poor’ lifestyle CBC.ca  – ‎Jul 25, 2016‎

Homelessness … sort of. Image Source Kelowna mayor feeling the heat from locals about rental housing crunch InfoTel News Ltd  – ‎Jul 13, 2016‎ KELOWNA – Mayor Colin Basran says he’s hearing plenty from residents affected by the rental housing crunch in Kelowna which is why he thought it necessary to release a “guest column” to local media last week.

Previously, Renters driven to tents, rental bidding wars, and more affordability issues . More affordability stories … Forced to camp for shelter Castanet.net – Jul 9, 2016 Kelowna has a notoriously low rental  vacancy rate, as low as 0.5 per cent according to some, which makes it difficult for those looking to rent something affordable. Homeless camps in Abbotsford Image Source Potential condo buyers camp out — in Abbotsford? CBC.ca – Jul 9, 2016 Given Metro Vancouver’s red-hot housing market, the sight of anxious buyers camped out in front of a condo development isn’t considered all that unusual … About 20 prospective buyers are lined up for Fraser Valley condos; some have waited close to 2 weeks.

#DontHave1Million? Sorry to tell you the truth: You certainly shouldn’t think about buying anything “real” (estate). Yes, not even cookie-cutter condo. The reality is you should be looking at how to rent a decent roof over your head. That’s all. Lest you get kicked out and have to stay in tents for good (see below): – Image Source Rising rents forced Abbotsford family into tent Mission City Record – Jul 5, 2016 After two months of searching and failing to find a place to rent in the Abbotsford area for her and her daughter, Stephanie Reimer bought a tent and started looking for a place to camp. Frenzied buying of Vancouver’s few  apartment buildings prices renters out of the market

We all know the insanity … Image Source Canadian house prices : From ‘overvaluation’ to ‘outlandish’ and ‘zany’ The Globe and Mail (subscription)  – ‎Jun 21, 2016‎ One of the world’s big credit-rating agencies says it’s troubled by Canada’s inflated house prices and extremely stretched borrowers. Canada’s ‘hands-off’ housing policy is right move in free market economy   Financial Post Moody’s: biggest Canadian lenders could deal with housing crash   Business Review Canada Here is a real life testimony … Two couples pool money to live under one roof