So $3mm is basically retirement money, right? So why isn't everyone just selling and moving somewhere else?
This sounds to me like real Vancouver residents who bought years ago have just won the lottery. Boohoo my house is worth 10x what I paid?! Tell me more about your problems!
Seriously, cash in the chips and enjoy life until the crash and then move back in a few years, own your house outright, and, continue to enjoy life.
I mean, I don't want to be rude but I'm having trouble wrapping my head around this...
Hey man, my house is worth like $4 million on Zillow.
Yeah, that totally sucks, how are relatable people supposed to move in next door?
Those Ferraris really have loud engines. It's a menace!
How are we going to *fix* this?!
We need the value of our homes to plummet back to equal or less than what we paid. I need noisy neighbors who can't afford landscaping, not just this eerie silence all up and down the street.
For sure.
Please can you tell me how we can get these Chinese investors interested in some nice New England properties?!
I don't think the anger is people bought their home 20 years ago. It's from people who rent; people who grew up with their parents and want their own place in the city; people who have moved to the area for a job and cannot afford to live within a reasonable distance of work.
Having property that no one lives in despite people wanting to seems like a poor allocation of land. (Mind you, it may not be a poor allocation of resources for the people investing)
This sounds to me like real Vancouver residents who bought years ago have just won the lottery. Boohoo my house is worth 10x what I paid?! Tell me more about your problems!
Seriously, cash in the chips and enjoy life until the crash and then move back in a few years, own your house outright, and, continue to enjoy life.
I mean, I don't want to be rude but I'm having trouble wrapping my head around this...
Please can you tell me how we can get these Chinese investors interested in some nice New England properties?!