{"id":19127,"date":"2016-03-24T18:38:52","date_gmt":"2016-03-24T23:38:52","guid":{"rendered":"http:\/\/olduvai.ca\/?p=19127"},"modified":"2016-03-31T14:20:52","modified_gmt":"2016-03-31T19:20:52","slug":"chinese-take-over-canadas-real-estate-market-buy-one-third-of-all-vancouver-homes-sold-in-2015","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=19127","title":{"rendered":"Chinese Take Over Canada’s Real Estate Market, Buy One-Third Of All Vancouver Homes Sold In 2015"},"content":{"rendered":"

Chinese Take Over Canada’s Real Estate Market, Buy One-Third Of All Vancouver Homes Sold In 2015<\/a><\/h3>\n
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\u201cHousing in Vancouver is insane \u2014 it was insane when I left and it\u2019s more insane now.\u201d<\/em><\/p>\n<\/blockquote>\n

That\u2019s from 33-year-old Kevin Oke, co-founder of LlamaZoo Interactive who\u00a0left Vancouver<\/a>\u00a0for Victoria two years ago because he couldn\u2019t afford to buy a home in his native city even while earning a generous salary as a lead designer at a video-game company whose clients included Atari and Ubisoft Entertainment SA.<\/p>\n

Kevin isn’t the only one leaving. Vancouver\u00a0added only 884 net new people age 18-24 last year according to Statistics Canada, and many observers worry the soaring cost of housing will eventually strip the city of its burgeoning tech economy.<\/p>\n

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(a representative listing from Point Grey)<\/em><\/p>\n

We\u2019ve spilled quite a bit of digital ink documenting the \u201cthree-alarm fire\u201d (to quote Bank of Montreal chief economist Doug Porter) that\u2019s burning in British Columbia\u2019s housing market. Here, for those who missed it, are some informative posts:<\/p>\n