The Walrus: The Highest Bidder – How foreign investors are squeezing out Vancouver’s middle class

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March 31, 2016 | Kerry Gold

Quoted from the article:

In February, when news of shadow flipping sent shock waves around the Lower Mainland, the government announced that it would set up a task force to investigate. The province also said that it would study foreign buying but that the results of the inquiry might not be made public. “Since when is a census not made public?” asks David Eby, housing critic and NDP member of the legislative assembly for Point Grey. A forty-year-old lawyer who lives with his wife and baby in a tiny condo, Eby has pushed the province and the real-estate industry to clean up sketchy practices and to tax speculative buying. He writes letters to government and regulators and holds press conferences to plead his case to the media. The emphasis, he says, needs to be on foreign money, not foreign buyers: undeclared, untaxed wealth earned offshore is where any investigation should start.

Read the full article: http://thewalrus.ca/the-highest-bidder/