[goatherders]

There is nowhere for people to live that is affordable and it's hurting the economy (particularly tech). Young people are commuting up to 2 hours each way to work while tons of condos sit vacant as foreigners park their cash in the market. Even those wanting to buy with traditional financing are losing out to all-cash buyers above asking.

[EnFinlay]

This is the narrative being pushed but I don't believe it to be true.

[miraj]

Which part of the above comment you believe is not true?

[MichaelBurge]

Why don't they hire a property management company to rent it out? Whatever's preventing that sounds like the real problem here.

[doc_holliday]

Well because the property is extremely overpriced when you consider market rate rents the yields are extremely low. You can only charge as much rent as the market will bear, which in some ways makes rental completely different to ownership prices.

Basically the people buying it don't deam the return on renting it worth the risk of a bad tenant or worth the hassle.

They don't need cashflow, are either using it as a safe holding of value or as a quick escape property if they need to leave insert country here for political reasons.

It's happening the world over.

[lintiness]

sounds like you guys should dump as many of these properties on these fool heads as possible. you can buy them back in a few years for a lot less.

[saosebastiao]

Exactly what came to my mind. I saw this same behavior happening in 2005. When there is no marketable cash-flow producing use of investment property, you are in a bubble.

[kennywinker]

And the phenomenon is even worse now. If you sold a property in 2005 in Vancouver, I bet you wish you'd held on to it.

As someone else said, it's only a bubble when it pops. Good luck timing that.

[roel_v]

When you buy property as a value store, more often than not ot's more trouble than it's worth to rent out. Not to mention that many renters, to put it mildly, don't take care of the building or the area very much, which has a big cost associated with it if you ever want to live there yourself.

[dadkins]

Having looked at a lot of overpriced "fixer-uppers" lately, believe me, owners aren't taking care of their places either!