Thanks for sharing the amazing photos. I was recently in Vancouver and was in awe with it's beauty. I agree with you, millionaire land is a great way to call it. I wonder how Vancouver is able to have so many people earning so much in order to afford living in such places.
RE: Travel blog :: ⛵ Coal Harbour, Vancouver (AKA, Millionaire land)
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Travel blog :: ⛵ Coal Harbour, Vancouver (AKA, Millionaire land)
That's the thing, I don't think people can afford it anymore. It's sort of become an investment vehicle for the world's wealthy. They've added a 15% foreign buyer tax, but that hasn't stopped the prices from continuing to rise. I think I read last year that the real estate prices of Vancouver rose more than the average person's yearly salary in just one year.
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It is still too early to see any substantial (if any) impact of the new tax. As far as I've heard it did reduce the foreign investment a bit but not as much as in the first month they introduced it. Time will tell, it for sure couldn't go much longer the way it did!
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I can agree with that. Time will definitely tell.
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