Ladner On Bloomberg – “This makes it all the more difficult for people who are already struggling to get into the market or businesses who can’t hire people to come here because of the high housing prices. There are a lot of people who are really frustrated.”

Opinion extracted from ‘Chinese Spreading Wealth Make Vancouver Homes Pricier Than NYC’, by Hui-yong Yu and Christopher Donville, 17 May 2011, at bloomberg.com : “This makes it all the more difficult for people who are already struggling to get into the market or businesses who can’t hire people to come here because of the high housing prices,” said Peter Ladner, a former Vancouver city councillor and a columnist for the Business in Vancouver weekly newspaper. “There are a lot of people who are really frustrated.” Unlike London or New York, “we don’t have enough jobs with high incomes to justify” the home prices, said Ladner. He noted Australia has placed restrictions on foreign home ownership. The British Columbia government also could consider an increase in property transfer taxes for foreigners, he said.