Just reading that there are 7,000 millionaires in China; 373 billionaires (admission could be more than double due to privacy wish). A heated, wealth generating Chinese economy has profited an elite that is virtually and greedily ruining their own country's environment for their personal wealth. And here in Vancouver, thousands of empty houses and condos are owned by this elite. They seek a sanctuary from a social and ecological collapse back in China and possibly a government crack down on foreign buying. Recently news articles broke the story about a corrupt immigration business in Vancouver whose owner has been sentenced to 7 yrs in prison.... a Mr. Wang. The consequence for the "clients" of this business is their possible deportation (about 800 people according to article). Also reported is the high incidence of Chinese arrivals to Van airport smuggling in cash and many getting caught doing it. My concern is about China with a population of 1.357 BILLION people and the relentless incremental buy out of BC from this gargantuan borg. Other countries have limits on how much of their real estate can be foreign owned. It used to take gun powder to own another country's real estate. We need not a tax on foreign ownership but an enforced limit to it. Our grads can not even afford practically rent let alone a house in Vancouver or Toronto.
China question for BC
- Thread starter coastvanisle
- Start date
How do think people got rich in North America?? With China set to explode economically it will be the rich who invest so they take 90% of the profits and leave 100% of the mess for others to clean up. (perhaps China can avoid moving too far in that direction)
China built a complete city in the mountains that is uninhabited. Taking that design to other nations could eliminate the the competition for flat land as being needed for towns and cities. Moving to 'the hills' solves that. They have a number of empty place for some reason.
If we have been going down the wrong path for the last 100 years why is stopping that trend viewed as being about the worst thing that could happen? People are either insane or it the ones with the most to lose can make a lot of noise when they don't get to hold the reins.
Do others get to chose which side of the wall you end up on??
Now come up with a workable solution. If we made a rule that said any owned property had to be occupied by the owner for a percent of the year and if it is left vacant the city has the right to rent it out as a revenue maker for the city. The owner leaves furnishings at his own risk and insurance must remain while vacant. The city will take care of the cosmetics and the lawn and shelters now have an abundance of places to house a variety of 'social rejects' from 'artists' to those who demolish everything they come into contact with. Each has their place society, just not in the same location at the same time. One for the 'remodeling' and the other for adding the finishing touches before the foreign owners come back.
Now come up with a workable solution. If we made a rule that said any owned property had to be occupied by the owner for a percent of the year and if it is left vacant the city has the right to rent it out as a revenue maker for the city. The owner leaves furnishings at his own risk and insurance must remain while vacant. The city will take care of the cosmetics and the lawn and shelters now have an abundance of places to house a variety of 'social rejects' from 'artists' to those who demolish everything they come into contact with. Each has their place society, just not in the same location at the same time. One for the 'remodeling' and the other for adding the finishing touches before the foreign owners come back.
Try giving landlords a small portion of the rights tenants have and the rental situation would change.
And the big reason Asian money does not need gunpowder to take Vancouver or anything else in the country for that matter....
https://thetyee.ca/Opinion/2017/01/...e=weekly&utm_medium=email&utm_campaign=020117
https://thetyee.ca/Opinion/2017/01/...e=weekly&utm_medium=email&utm_campaign=020117
Other countries have onerous limits on foreign ownership of their real estate why not us. These countries include both Hong Kong and China...others are the UK, Switzerland, Australia ... and etc.. This is well worth watching.....