this post was submitted on 02 Nov 2023
12 points (73.1% liked)
Vancouver
1434 readers
18 users here now
Community for the city of Vancouver, BC
founded 3 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
tl;dr: Investors buy land and leave it undeveloped to avoid taxes while they wait for prices to rise.
tl;dr2: Rich people suck money out of the system, adding no value and making life more expensive for everyone else.