The West Will Restrict Foreign Home Ownership

A new study shows foreign ownership was the main culprit in housing unaffordability in Vancouver. When the next growth cycle hits, the number of global middle and upper class who can afford houses in Western cities will rise an order of magnitude.

Smaller countries already have laws restricting foreign ownership for the same reason.

Also, if you think immigration isn't having a huge impact as well...nationalism is only getting started. Politicians and parties on the wrong side of these issues are going to be out of power for a generation or more.
SCMP: Foreign ownership main culprit for Vancouver’s unaffordable housing, a top destination for Chinese funds, ‘unimpeachable’ study says
The white paper by Josh Gordon, an assistant professor at Simon Fraser University’s school of public policy, found a near-perfect 96 per cent (or 0.96) correlation between various metro Vancouver municipalities’ price-to-income ratios (a common measure of unaffordability), and the proportion of their detached houses in which at least one owner was a non-resident.

A leading researcher who was not involved in Gordon’s study said its findings were “unimpeachable”: the more that a Vancouver municipality was favoured by non-resident owners, the more unaffordable its detached houses tended to be.

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