I live in San Francisco, CA (we pedes exist here) and the only reason our property prices are so insane is because of Chinese foreigners buying up our land and housing and letting it sit vacant, on top of our politcians refusing to pass bills to allow new housing to be built.
Politicians here are 100% in the pockets of China. Why build new housing when they can artificially inflate the price of land that China owns and profits off of? Scientists say this area is long overdue for an earthquake powerful enough that it can topple the city. Time for it to hit.
I can't personally trace it, but the many on the seattle subreddit claim prices in Seattle, and especially in Vancouver, BC are way high because of chinese purchases. I think there is a new law that you can't have an agent buy a place for you sight unseen anymore.
Live in Vancouver and worked in Buying Property field
(One of the small people who actually makes the stuff happen.)
Bigger foreign buyer tax, but there are ways to mitigate it.
Don't know about any rules on sight unseen.
They did start a Empty housing tax, where if your house isn't occupided for some number of months you get dinged.
(avoids vacant property. ways to get around it as well but harder to do.)
Prices have gone up in the last 2 years but not nearly as much.
As before the changes.
Old saying (from 10+ years ago) was if you can't sell your house in 2 days, fire your realator and call a Chinese Realator. .... now we see the price of it.
Why the fuck are foreign nationals allowed to own our land at all. Fucking dumb.
I live in San Francisco, CA (we pedes exist here) and the only reason our property prices are so insane is because of Chinese foreigners buying up our land and housing and letting it sit vacant, on top of our politcians refusing to pass bills to allow new housing to be built.
Politicians here are 100% in the pockets of China. Why build new housing when they can artificially inflate the price of land that China owns and profits off of? Scientists say this area is long overdue for an earthquake powerful enough that it can topple the city. Time for it to hit.
Very similar in NYC! https://newsfeed.time.com/2013/03/28/chinese-mom-buys-6-5-million-new-york-city-apartment-for-two-year-old/
I can't personally trace it, but the many on the seattle subreddit claim prices in Seattle, and especially in Vancouver, BC are way high because of chinese purchases. I think there is a new law that you can't have an agent buy a place for you sight unseen anymore.
Live in Vancouver and worked in Buying Property field
(One of the small people who actually makes the stuff happen.)
Bigger foreign buyer tax, but there are ways to mitigate it.
Don't know about any rules on sight unseen. They did start a Empty housing tax, where if your house isn't occupided for some number of months you get dinged.
(avoids vacant property. ways to get around it as well but harder to do.)
Prices have gone up in the last 2 years but not nearly as much.
As before the changes.
Old saying (from 10+ years ago) was if you can't sell your house in 2 days, fire your realator and call a Chinese Realator. .... now we see the price of it.
That and illegals who take up like 50% of housing
You can't really find a safe, clean, post 2005, 1BR apartment for under 400K or generally under 1500 in rent.
What is so important about it being built post 2005?
RIGHT!!!
Seems like it needs an update. Our founding fathers knew their rules were not perfect
For many reasons, including inheritance
Sounds like something a Europoor would say
America isnt a real country? GTFO