Housing Market: Concern and Housing Prices

housing market: Unless you think 90 per cent of Vancouverites are xenophobic or racist, then you'll realize that this claim is silly, according to Globe and Mail. The issue is that the local housing market has become disconnected from the local labour market, largely due to the influence of foreign capital, and people don't like that. Concern about foreign capital is xenophobic or racist:Ninety per cent of Vancouverites support the recent foreign-buyer tax. That concern cuts across all groups – the concern is with the foreign money, not the foreign people. Rising prices are all about low interest rates: Interest rates are low across the developed world, but only in a small minority of cities do we see housing prices galloping ahead of income levels on a long-term basis. And yes, there are straightforward policies to address the impact of capital, without targeting people. (www.immigrantscanada.com). As reported in the news.