Racism, affordability and Chinese buyers
It is no secret to anyone in Lower Mainland real estate that wealthy Mainland Chinese buyers drive the higher end of the market. However the impact in other areas of the market are not as significant. There are other factors at work driving overall affordability. As the Economist points out. Vancouver sits between San Francisco and Hong Kong in overall affordability. Bob Rennie delivered a speech to the Urban Development Institute in May, in which he said "sensational" stories making that link were "bordering on racism". Bob Ransford in the Vancouver Sun made similar comments.