From the archives: Vancouver residents speak about getting priced out of the housing market
ฝัง
- เผยแพร่เมื่อ 28 ส.ค. 2024
- Feb. 3, 1989: For some Vancouver residents, house prices are becoming unaffordable. They say they are unable to compete with bidders who are driving up prices without even seeing the property.
#britishcolumbia #cbcvancouver #vancouverhousing
Connect with CBC Vancouver online:
Website: www.cbc.ca/bc
TikTok: / cbcvancouver
Instagram: / cbcvancouver
Facebook: / cbcvancouver
Twitter:
/ cbcvancouver
/ cbcnewsbc
"The Prohibition on the Purchase of Residential Property by Non-Canadians Act prevents non-Canadians from buying residential property in Canada for 2 years starting on January 1, 2023. The Government of Canada has passed a new law to help make homes more affordable for people living in Canada."
The Canadian government should not allow foreigners to purchase property anywhere in Canada. People who are citizens of Canada should be permitted to purchase property anywhere in Canada. The Canadian government has no intensions of helping Canadians, and the individuals representing the Canadian government should be ashamed of themselves.
pff. there are plenty of workarounds on it and even then, it's too little too late
We all know this ain't gonna do peanuts. Need to ban rich ppl from purchasing multiple properties and outbid first time buyers. Let the first time buyers buy first. These rich ppl buys up condos and rent them for high prices
It is not a full fledged ban. They have amended it to allow foreign buyers to get a house under certain conditions....
Yeah, the loopholes foreigners are exploiting need to be closed.
CBC is highlighting the right topics. Media should be strong like this.
Yeah, a little too late. Also, I'm pretty sure they were also saying it was racist to blame Chinese foreign investors for driving the housing market through the roof...
Houses that would normally get a handful of offers now get 37 offers and a bidding war commences. But please, tell me how jamming 500k immigrants into the country every year isn’t a bad thing.
...and when you do not build enough..
500k? Try over 1mm permanent residents AND 600k students. I own rentals, so keep em coming. For all FTHB, it must suck watching your gov's policy forcing you into being a forever renter.
nothings changed, give away our homes to foreign buyers
It's the bottom 25% being priced out back then and now even the top 25% are priced out.
And somehow the people are still buying 🤯
@@nikkucharski4851 inheritance mainly
Canada has lot of land, still they have housing crisis. Can't believe.
They are so slow like tortoise for giving approval for housing construction,
Poor management leads to suffering.
This is triggering
Vancouver's unaffordable, which is why I'm 29 years old with a house in Coquitlam. Housing prices are way too high in Vancouver, and I refuse to live in a condo.
Realtors back then earned 7% @150k..
They still earn 7%@ 1.5m
Wow 😮
The higher the house prices the higher the property taxes. What motivation does the government have to cap house prices? This is why they allow foreign investors to buy Canadian homes and businesses…. Follow the money.
until all the talented workforce leave the city and then the city collapses. I want Vancouver to collapse.
Vancouver has some of the lowest property taxes in the world. A part of the reason why so many foreigners buy real estate here
early 30's and somehow look 50
Tell the local gov to put a hard stop to foreign investments that keep the price unreachable for locals and create all these issues in the housing markets.
Reits, Asset Managers, Institutional Investors, and publicly listed companies
collectively hold between 20-30% of all purpose built multi-family buildings in Canada now.
@@terenceyuen4424 Shares of which are held in the investment portfolios and pensions of many of those complaining about the high real estate prices.
ajusted for inflation the house price for this house in 2023 would be 245k but now i bet its 800 000k plus we are even more f*ked unless i win the lottery i don't think i could afford a livable house in a 50 miles radius of where i work
$800,000 is the price for a one bedroom condo in Vancouver
Fascinating ty
They need to regulate the market. Introduce a price ceiling on properties by size, age, condition, type, and location. Then, only allow owners to sell up to a certain percentage increase of their previous years market value, which should be based on inflation rate and real dollar value (GDP) as opposed to market demand. Also, to sell at full percentage increase price, the home should meet a criteria to ensure quality of homes are reflecting the actual price.
I wonder where did this young couple ended up settling down in, they shouldn't be complaining now.
Jesus! I wish I could go back in a time machine!!
What ever happened to Layla Paul? I remember Gloria Mac. replaced her.
I’m 33 now and there’s no way I could buy in Vancouver now. Looking to move out
The rent is as much as a mortgage payment for a 1.5 million dollar house..
I wonder if this lovely couple did buy a house after the interview. They would be millionaires now if the did.
With all the exposure from Expo 86 and the Olympics in 2010, what did you expect? Mexicans probably feel the same about all the foreigners from Canada buying up their cheap real estate.
My feelings exactly(Now I didn't catch onto that with Expo 86 because I didn't live down here at the time, and I was a little under 2 years old), but with the 2010 Olympics?...Yeah, we attracted a pretty nasty crowd.
Gentrification
anybody in these videos who are 60+ are reaching close to age 100 now. I wonder what they think about today’s market.
...Some would probably think it's our fault for being lazy.
@@HanakoFairhall facts
🥲
This is not a nation for the people it is for the bankers and taxman.. why can't we just build bigger better and super amazing.. like the worlds most beautiful nation Russia which actually is half of america.. well us having come here from there.. and Europe being an early expansion of Russia..