How Different Is It?

In the 1880’s when they comprised 50% of the population the Chinese didn’t seem a problem.

Consider our present day consternation in regard to the recent influx of mainland Chinese. Some people become incensed at the thought of yet another offshore Chinese person buying a home or multiple homes here in Vancouver often paying prices beyond the financial ability of locals. This process some claim, only serves to drive the real estate market higher.

During a recent visit to Quesnel I took a walk about that town to find many point of interest that told stories of Quesnel’s history. Below is an excerpt from one of those signs.

Cariboo-and-Chinese
P1994.17.70-WebKong Sing, Marvin & George Baker , Edwin Steere. early 1920s

What stood out in this point of interest is the difference in the choice of words describing the Chinese of the 1880’s.

Encapsulated in this one sentence the Chinese of the 1880’s seemed more industrious in their contribution to the growth and prosperity of the Cariboo and Canada as a whole.

In contrast, I wonder. Would the children of those pioneering Chinese record history using yesterdays words to describe present day offshore Chinese home buyers?

Photo: Albert J. Wilson, Quesnel & District Museum and Archives

About Larry Yatkowsky

Larry is a recognized real estate expert. A veteran professional, his experienced counsel leads Vancouverites in his west side community to place their trust in a man passionate about his work. Uncompromising ethics bring a balanced approach to realizing your real estate dreams.

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*Disclaimer: Statistics Courtesy REBGV. While believed to be accurate they are not guaranteed.
**Numbers provided may vary as they are dynamically posted by the REBGV.

Reader Comments:

Dave Mck Says:
July 26th, 2016 at 4:38 pm

Back then Larry, Chinese immigrants were the poor, and doing the crappy jobs….. Nobody cared
Oh how times have changed….

What are you hearing about the new tax on foreign buyers? Many scrambling to close before Aug 2?

Keep up with the blog, I like your perspective on things.
Thanks….Dave

July 26th, 2016 at 5:07 pm

@Dave
Re New Tax
In all likely hood it is a bit of ill thought political puffery aimed at keeping the masses quiet while garnering their vote. Consider the following quote from an email advertisement made by a noted Realtor here in Vancouver.

A Solution to This Issue

For our clients and others who have bought presales we do offer a solution.
Most of the presales bought in the last 24-36 months have seen significant increases in value.
It is possible in many cases to assign the presale purchase contract to a family member or friend who is a Canadian Citizen or Resident.
For those of you who do not have that option, we may be able to sell the presale to a third part at a profit to you.

In essence we don’t need to worry about the Chinese devising some new way to bury their money. Hell no! Just build a Tax wall and then hand them a ladder to get over it.

July 27 Follow up:
it seems this Realtor didn’t read the fine print about using ladders.
http://vancouversun.com/storyline/top-realtor-rapped-for-trying-to-avoid-new-15-foreign-buyers-tax

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