It’s the number of highly paid civil servants, according to one anonymous commenter on this blog, who are driving Lower Mainland house prices into the stratosphere.
While there’s no question a healthy economy — and I suppose high pay in any sector is a reflection of that — boosts prices, a lot more readers think it’s the marijuana grow-ops that are pushing prices up. Or, more broadly, the high property prices are a byproduct whole “industry” of organized crime — drugs plus associated activities like money-laundering or perhaps even the sex trade.
Of course, there are always the old stand-bys — non-resident foreigners and/or home-grown investors who see the consistently escalating price of Vancouver real estate as either a great long-term investment, or an opportunity to make big bucks with a quick flip…
Please click for the full article
Written by: Don Cayo
Date: August 9, 2010