favorite this post Going-Gone...Vancouver Real Estate Priced in the Hundreds of Million$ (North Vancouver South Central) hide this posting unhide

The Startling Truth - ....For example one property on Georgia selling at $275 Million and another on Grandville selling at $675 Million.At those prices what are they going to use that land for...or actually who is going to use it...or what customers can actually afford it? A property that costs $275 to $675 Million is going to be too expensive to rent out to any regular or average businesses.The owners can't recoup those Hundreds of Millions by turning that land into commercial or even industrial Rental Properties.Maybe the only way to make that money back, plus make a profit, is to turn those properties into very Expensive Condos? Such Expensive Condos won't be attracting any local working people as it is only the World's Wealthy Elite who can afford to buy Condos on local properties that now sell for $Hundreds of Millions.Targeting and Marketing more and more of Vancouver Real Estate for Condo Properties for the Wealthy Elite will do what to local businesses? Pretty soon average businesses of all kinds won't have any place to set up in Vancouver because they can't afford to buy let alone pay the rent on what's becoming $Billion Dollar Properties.I wonder if Vancouver City Hall during it's long Sweetheart Honeymoon with Developers has ever considered the implications of what negative effects $Billion Dollar Properties will have on average working people (who make up 95 percent of the population) and their living economy?
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