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What can / should be done about Vancouver's Market


Blog by The O'Brien Group | April 26th, 2017


What can / should be done about Vancouver's out of control market
Now don't get me wrong - I believe in Real Estate as an investment, as a retirement plan - but really, people - what are we doing??  You know things are wrong when young professionals cannot afford to buy - the demand far outweighs the supply.  (didn't we all take economics 101?)
Obviously, owning Real Estate in Vancouver is not a birth right after all we are a sought after, ....Internationally acclaimed City....!
Where are the politicians that we need to talk to about Vancouver Real Estate??
Foreign Buyer's Tax - YAWN - doubling it will only further annoy people - not change the market.
Empty house tax? - another YAWN
Vancouver property values are back to where they were last July (2016) - pre taxes!!
How is it that the obvious solution to the pressure being released is overlooked?
Imagine if all the building permits for new condominiums were released at once - imagine that there could actually be product for buyers to buy without lining up days in advance for a first day sell out?!
Imagine if there were trains to the outlying areas so people could afford a home and still work in the City albeit with a 40 / 60 minute train ride to areas like Langley, Aldergrove and beyond??
....Just like Internationally acclaimed Cities...
How about the Property Purchase tax, the Foreign buyers Tax, the Empty home tax - could these $$ not fund new rapid transit???
Politicians are you listening??
Wow - I know who I would vote for...!!

These questions need to be answered, this is hoping someone may be able to help us come up with solutions rather than yawn worthy annoyances for the Vancouver Market.