UBC economist Thomas Davidoff was quoted in a story in the Globe and Mail discussing how the sudden drop in foreign buyer activity is affecting the residential real estate market in Vancouver.
“Politically, going after foreign people isn’t really Profiles in Courage, but to have a major price correction just around election time? That could be tough politically,” he said, referring to the political fallout that could follow a downtrend in housing prices. “And a tough needle to thread because you have a market that’s predicated on foreign buyers and expectations of more and more and more [price gains].”
Davidoff was also quoted on the topic in the Vancouver Sun and The Province.
