is heating up, but do the politicians really want to find a solution or is it not in their best interests?
That’s the question posed by Vancouver Sun
columnist Barbara Yaffe who writes that various “vested interests” are clouding the issue: “Politicians are ducking and real estate interests are weaving, leaving hopeful buyers to their own devices” she says.
Yaffe concludes that the problem the politicians have is that the housing market in Vancouver
generates a large amount of revenue; $1 billion in property taxes, $2.1 billion in economic spinoffs and thousands of jobs, including 12,000 in real estate.
Then there is the delicate balance between doing something to appease millennials trying to get into the property market, while not slashing the home equity of current owners. With the latter group being larger, that’s a lot of potential votes to lose.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
Investment Hot Spots:
Saint-Adalbert, Malahide, Windham Centre, Mendham, Field
The debate on housing affordability in