Dec. 2, 2017
Plan to read the article, Vancouver Foreign Buyer Ban? City May Limit Housing Market To Local Residents. The link is here.Study notes
Housing market research is new to me in English. I like to look up those words:
B
a foreign buyer Ban
builders
builders targeting investors, low interest rates, and favorable tax policies
C
City of Coucil
E
Excessive supply of global capital
F
Fuel by foreign and local speculation
M
numerous supply and demand measures
R
Restricting ownership of housing to local resident
Restricting short-term rentals
S
Vancouver's new 10-year housing strategy
Support of federal and provincial governments, particularly those around taxation
Facts provided in the article:
Home prices on Vancouver's upscale west side jumped 57 percent in the last three years, sending the typical price - including condos, townhouses and detached homes - to $1.4 million, according to the local real estate board.
In the Greater Vancouver region, the typical home now costs $1 million, 12.5 times the region's median household income of $79,930, putting home ownership out of reach of many residents.
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