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Comment by DenisM | Hacker News Reader

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DenisM·

> First it was Chinese foreigners buying up all the real estate, but that was proven false.

How was it proven false?

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The market impact appears to be negligible. At least not as large as factor as implied or popularly claimed.

To convey the spirit of your parent, is there any credible source? Remember china has a huge media manipulation budget.

Is there any credible source the other way around?

How many foreign nationals own property in Vancouver? How many of those properties are unoccupied? I can't remember where I spotted reporting on those two questions, but I wouldn't be surprised if the city publishes real estate transaction data such that the number of foreign purchases can be gathered. I remember a very small portion reported.

Google is your friend. Metro Vancouver has 9.2% of unoccupied homes and Vancouver itself has 8.2%, them being highest and second highest in Canada. Chinese drug mafia also allegedly moved more than $5bn through flipping properties in Vancouver.

https://www.thestar.com/vancouver/2018/06/24/in-one-of-west-...

It's strange that owners would let the homes go vacant rather than rent them via a property manager. While the article seemed well-researched, one missing bit was who purchased the mansions they kept mentioning. They knew the builder, so perhaps they could have asked.

Is it though? Some of them just want to move their money outside of China incase something happens and they don't really care about anything else. While renting them via a property manager is a better financial decision, i'm don't know if you they care about it that much they are paying $x above asking price. Also, this might be their vacation home.

Yes, making a poor financial decision is strange when it's so easy (on the face of it) to make a better choice.

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