Don't just blame foreigners for Vancouver's affordability crisis: CMHC
Canada Mortgage and Housing Corp. President Evan Siddall, citing a year of research by the federal Crown corporation, pointed instead to several factors and actors responsible - including critics of federal housing policy like Vancouver Mayor Gregor Robertson.
"While it would be convenient to hang all of the blame for high prices on others - offshore buyers - it’s just not that simple," Siddall told members of the Greater Vancouver Board of Trade.
"Sure, it makes for a tempting narrative: them, not us."
Foreign investment, according to Siddall, is "clearly" a factor - but not the only one.