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Foreigners buy $885M worth of Vancouver real estate in just 5 weeks - study

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Ephraim Vecina | 29 Jul 2016, 08:15 AM Agree 0
The amount is approximately 10 per cent of total real estate sales volume in the region in the period covering June 10 to July 14, according to latest B.C. government figures
  • MFenn | 10 Aug 2016, 05:51 PM Agree 0

    Wow! this is like saying: "Vancouver is a great place to invest in. But go away investors!"

    Beating up on foreign investment is Walter Gordon bungling in the '60s, all over again. Michael Bliss writes that Gordon, a nice man and truly disastrous at the financial helm, "bypassed his senior officials to bring in outside consultants (most notably a thirty per cent takeover tax on sales of Canadian companies to outsiders), disregarded clear warnings that his schemes were unworkable, learned from an enraged business community that there really were unworkable, and then bungled their withdrawal. In a few days this deeply foolish finance minister destroyed his own reputation and crippled the government's. .. Pearson's real mistake was in not having accepted Gordon's resignation. Gordon's further mistake was in not having insisted on resigning." Michael Bliss, 'Right Honourable Men', Toronto, ON: HarperCollins, 2004, p. p. 225-226.
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