Tale of Two Cities: Why Vancouver and Seattle Downtowns Look So Different

[Fiendish Thingy]

1. Detached homes in Vancouver cost $2-4 million+

Condos go for $750k-$2million.

Hundreds, if not thousands, of condos are vacant, purchased by speculating land bankers/money launderers who have no intention of ever occupying them. Hundreds more condo units are used for Air B&B units.

The government insures high risk mortgages, so lenders will approve anyone who meets the modest qualification stress test (a little tougher recently with increased interest rates).

I’m not sure Seattle should aspire to Vancouver type city planning.