College students live in Vancouver.
According to Bloomberg's Natalie Wong and Natalie Obiko Pearson, the owner of a vacant house is trying to avoid a new tax hire more Vancouver mansions and young adults are attracting them. "In the new world of the Vancouver housing market, it is standard for Chinese investors to suggest a low ball, and students can find themselves living in the lap of luxury."
Fourteen students pay C $ 1,100 ($ 825) per month for a nine-bedroom home with a Fox and a pool table. "The castle," said Wong and Obiko Pearson. Real estate brokers have a C $ 4,500 ($ 3,378) and four million C $ (about $ 3 million) rental housing.
Just three years ago, Vancouver's real estate flourished, and the price was twice as high as it was ten years ago. Wong and Obiko Pearson reported. The government has implemented new policies, such as tax and stringent mortgage regulation, to pay the price, which has led to the weakest sales decline since the global financial crisis.
Vancouver was one of Canada's most expensive housing markets, and was sluggish in 2017 due to new mortgage regulations and higher interest rates, Business Insider Gina Heeb said. Toronto has shown signs of stabilization, but the underdeveloped Vancouver housing market does not charge any fare.
One economist predicted that the Vancouver housing market was headed for "bumpy landing" recently. According to Heeb, last fall, the city's housing list has hit a peak since 2014, and oversupply is likely to increase within the next two years.
"Because the tax on vacant Vancouver homes is likely to increase by up to 3 percent from the annual levy, the landlord leases the house according to a real estate agent," writes Wong and Obiko Pearson. "This is leading to low prices for cities with vacancy rates close to 0%."