International speculation distorting Vancouver house prices, needs limiting measures
Yolande Cole
November 4, 2011
Straight.com
Independent city council candidate Sandy Garossino believes international speculation may be pushing up housing prices in Vancouver.
As part of her civic election campaign, the candidate is seeking to have the city examine whether what she says is the distortion of housing prices at the top end of the market due to international speculation is driving up costs throughout the region.
“When people feel like they’re choking on their housing costs, it’s because they are,” she told the Straight by phone. “These costs are way out of line, and they’re driving people out of the city and we’re losing talented people from the economy.” Continue reading