A recent real-estate deal in Victoria, B.C went like this: an overseas couple was interested in purchasing property, and sent a list of specifications to a brokerage. The brokerage came back with 50 matching properties…the couple went ahead and bought all 50.
A flood of overseas capital in some markets is part of the problem, yet the housing squeeze is bigger than that, it’s multi-faceted and Canada-wide.
Some are reaping windfalls, others are being crushed, but perhaps most would agree the housing market, in places like #YVR and elsewhere, is growing out of reach and out of control.
In these places, the situation is critical. It’s Code Red, and calls for major action by our politicians.
Stand with us by becoming a Backer of Gen Squeeze (monthly contributor) and join us as we lobby for you, and with you, to push for meaningful change.
We don’t want to make the squeeze any worse, so we’re asking for as little as $1.87/month (a nickel a day + transaction costs). For those who can afford $5 or more, we’ll send you a Code Red light bulb (ALL backers will receive a Code Red window sign).