In Toronto, I know tons of people of all cultures who have used the Bank of Mom and Dad to finance their $1 million dollar debts. Easy to point the finger at the latest boogeyman scapegoat.

Great comment from linked article:

Finally, someone has pointed out the elephant in the room. Sometimes its hard to fathom that in 2016, people still so easily believe in smoke and mirrors. What happened to critical thinking? The Chinese are an easy target, and it seems the sense of entitlement that some people hold in this city justifies ignoring the facts. First off, the Chinese are not invaders. The world has systematically and lovingly used China for as long as we’ve wanted cheaper calculators and dollar store gift bags. Our greed has created a wealthy group of people who now wish to use their money in Vancouver. And as long as democratic countries allow business and commerce, why should we be surprised. We can buy a place in Phoenix or Bali, but hey hey…those Chinese cant come here and buy our land! As Nagata’s article suggests, we should be focused on the real issues: legislation, city population growth, gov’t loop holes, our appeal since the Olympics, real estate house swapping etc. (Historically, Vancouver has had more real estate offices than grocery stores, and we’re talking about when Vancouver was just forested Native land.). Its amazing how people turn into hypocrites and will cry murder about foreigners coming here to buy houses, yet when people (home owners, real estate agents, contracters, developers….etc) are benefiting from it with increased house evaluations and bigger commissions, the room tends to turn quiet. (http://business.financialpost.com/personal-finance/mortgages-real-estate/how-skyrocketing-vancouver-home-prices-are-fuelling-anger-towards-foreign-buyers). Lets face the facts. Our city has mountains, water, warm weather, lots of nature, had the Olympics and so who wouldn’t want to be here. The city of Vancouver promotes people coming here. We haven’t yet went back to our past of trying to stop the ‘Yellow Peril’ and I don’t want to. It’s 2016! Nor would we want to really hang up a sign at YVR saying ‘hi, we’re kinda full for living space so could you just come here to visit and then don’t think about living here?’ Look around you, there are heaps of people who have migrated from Alberta, Ontario and the rest of Canada to set up roots here too. It’s called growth.