[awinder]

Maybe I’m dense and missing it but why are properties purchased just to sit? Seems like a wasted revenue stream regardless of the original intent.

[sedachv]

In the case of Vancouver specifically, it was a combination of Ponzi schemes, lending fraud, and money laundering:

http://www.theglobeandmail.com/real-estate/vancouver/out-of-...

http://www.theglobeandmail.com/real-estate/vancouver/canadia...

http://news.nationalpost.com/news/canada/chinese-police-run-...

[ficklepickle]

The primary residence scam is popular. Pretend to live there, pay no capital gains. Especially lucrative if you tear down and old junker and build a fourplex and laneway house.