“It has now been almost a decade since I wrote that article, and I wish I could say everything has turned out well,” Jim Sutherland says.
Jim Sutherland nailed the key causes of Metro Vancouver’s housing crunch almost a decade ago. But few noticed. And many denied it.
“If ‘buyers from China’ answers the ‘who’ question about Vancouver’s unique real estate market, the followup question — ‘Where is this leading?” — is harder to answer,” Sutherland wrote in a Report on Business Magazine article headlined: “The Price of Paradise: Wealthy immigrants from China are happy to pay stratospherically for homes in Vancouver.”
Related Some of Sutherland’s early insights have become widely accepted in the past couple of years in Metro, though, as Ley points out, not in other North American gateway cities for Asian migrants, such as San Francisco or even Toronto. The veteran editor/freelance writer, who is mostly retired, believes his piece of almost a decade ago makes clear he’s “an enthusiastic supporter of immigration” and “doesn’t share the longing that many people seem to have for a less-cosmopolitan Vancouver.” He also wasn’t convinced that the city’s housing prices at the time were ridiculously out of whack; until, that is, the last “crazy upward spiral” that began in 2014.
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