But what is your moral standpoint regarding this? I guess for you money has nothing to do with morals and ethical behaviour.

I mean why would you want to live in Milan, Paris, London, Sydney, New York, LA or Miami when you can live in Toronto, right? There’s plenty of big cities, and you’re out of your damn mind if you think your “center of the universe” is the only destination for that money.

Milton Friedman never promoted rampant housing speculation, and in fact his brand of monetarism would have prevented most speculative bubbles by restricting money supply growth, thus limiting credit and forcing interest rates higher.

Being angry with your government for being way too lax and corrupt is one thing; blaming gangs, drug dealers, etc for screwing over citizens and wanting them to be punished also totally understandable; but to blame everyone that doesn’t have white skin for societies problems? Come on. This argument just helps the elites, 1% ers and government by taking the heat off them so they can continue to live their lavish lives since you’re too busy worrying about how the immigrant neighbours afford to buy a second Toyota that you don’t have time to question the board position your former minister just got or the $5 million bonus a CEO just gave himself…

This may be true, but the vast majority of money laundering in BC originates in Mainland China. The data points to this, anecdotal evidence does as well… at this point this is uncontroversial.

This is simply incorrect. The number you’re citing is Canada-wide, and skews elderly. Many of those households you are describing have adult children living at home. Young middle class people in BC’s Lower Mainland will not be able to own homes unless prices fall drastically ($70k/year is not nearly enough to responsibly buy homes in the region). It means more of their money is going to rent or to service debt, less is going to the economy. The standard of living of the middle class is severely degraded by speculators, money launderers, and satellite families buying up the housing stock.

“Allowing foreign money to speculate enriches the general population, by increasing global demand for housing stock” huh, huh… thank you Milton Friedman. And, in doing so disconnects housing prices from the local economy making it impossible for local residents to purchase decent, affordable housing. Yep, great way to ensure an entire generation of young people can’t afford to purchase housing because they are competing with the ultra rich from who knows where.

Oh mah gawd thank you Jie Jing. Spot on with your comment on Canadian attitudes to govt vs. Asians, who at least have some common sense.

Mmr, you’re right. I’m gonna stop paying my taxes in Canada (not tax avoidance but evasion, get the difference??) and get my money out to buy property in some Caribbean paradise. But I’m still gonna send my kids to local public schools, use the roads here, public health care and all the rest. And you don’t get to call me a criminal, because hey, we love people like that here in Canada, no?