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Rich foreign investors drive up home prices in Vancouver, locking out locals

Vancouver has become such a popular destination for overseas investment that locals can scarcely afford the price of an average house in the city. And because many of the new flats in some areas are purchased by investors who then leave them empty, local businesses are having a hard time surviving.

12 Jun 2013 - 4:07AM

Vancouver has become such a popular destination for overseas investment that locals can scarcely afford the price of an average house in the city. And because many of the new flats in some areas are purchased by investors who then leave them empty, local businesses are having a hard time surviving.

Rich foreign investors drive up home prices in Vancouver, locking out locals