Sunday, June 7, 2015
A common explanation for the high (and climbing) cost of real estate in Vancouver is foreign investment. Those who disagree range from progressive media outlets like The Mainlander to hog wild real estate entrepreneurs like Bob Rennie -- both of whom are quick to accuse those who hold such a view as racist.
Two weeks ago, Rennie presented 19 reasons why Vancouver real estate is so high. In an attempt to downplay "Overseas investment -- not just from China," he placed it 11th on a list where all 19 reasons, despite their ranked placement, are given equal weight.
While I think that most of Rennie's reasons can be quantified (and ranked), all are part of a larger reservoir, of which foreign investment is the penstock.