Last week, author and housing advocate Kishone Roy found approximately 800 Vancouver-area mansions for rent on Craigslist for prices well below what they would normally command.
But these rentals offer a single room in a multi-bedroom house for anywhere between $700 and $1,500, with more than 5,000 empty bedrooms available across the city.While most owners contacted by CTV News said they don’t want groups renting out the homes, the rentals present a cheaper housing alternative for students and young professionals.
It’s a situation that might not seem to make sense, but realtor Kevin Wang says the answer is a simple one.Last year, B.C. introduced new taxes targeting real estate speculators who purchased property, only to leave it sitting empty.
lower taxes than if left empty
Prices are crashing & people can't get out & speculation tax that should have been in place 30 years ago is working . These are the ones let's holding the bag