Her name is Christy Clark. She is the premier of British Columbia. She now wants to impose rules on the housing market because it has become clear to her, during an election season, that it can't regulate itself. You will not find a single market in the history of capitalism that has regulated itself without causing serious harm and damage to the poor and working class. The housing market in Vancouver and other parts of the province is no exception. Also, the worst economic situation you can ever create is one that couples a self-regulated a market with an absence of capital controls. Vancouver has been in this exact situation since 2005. Then, only 19 percent of "single-family homes were valued at more than $1 million." Now, 91 percent of homes in that city are valued at $1 million or more. Clark might be arriving to a huge fire with just a bucket of water.
from Narinder Bains Personal Real Estate Corporation http://ift.tt/29kbnRV
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