The Highest Bidder

A new article in The Walrus highlights how foreign money is not only changing Vancouver housing ownership but also shaping the future of the city. As more average-income residents are priced out of their neighbourhoods, families are moving out and setting roots in the future new urban cores, like Burnaby and Coquitlam. Vancouver is likely to become a resort city in the future, where no one actually lives, according to people interviewed in the article.

The article discussed the work around this issue done by UBC researchers Tsur Somerville and David Ley.