Hello Shipboard,

You are raising the old canard about "foreign buyers" (roll eyes).

You seem, strangely, to somehow think that "foreign buyers" was my subject, where I actually wrote about OVERSEAS MONEY.

They are not the same thing. The HUGE amount of money that has flooded into Vancouver has come from overseas money, and it is only a minority fraction of that which has been from foreigners. Most of the overseas money has arrived in recent decades  in the hands of investor immigrants.

The reason houses have been soaring in price in Vancouver, now at dozens of times the average annual local income, is because of that overseas money.

Are you new to these boards? Most regular readers realized long ago that there is no way - zero - zilch - for houses prices in a Canadian city to reach, based on local workers, dozens of times the average annual local income. It is an economic and physical impossibility.

Overseas money is the mechanism that caused this.