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“I am a Canadian, free to speak without fear, free to worship in my own way, free to stand for what I think right, free to oppose what I believe wrong, or free to choose those who shall govern my country. This heritage of freedom I pledge to uphold for myself and all mankind.” ~~ John G. Diefenbaker

In Victoria, former Airbnbs are flooding the market — but no one is buying (Ricochet)


The open house is all set up, but nobody's coming. There’s plenty of foot traffic outside, but those are mostly Airbnb guests, wheeling bags in and out of the building, and they’re not here to buy a home — just to occupy one for a few days while they still can.

In October, the B.C. government announced a ban on short-term rentals that are not in the owner’s principal residence ...
... now the clock is ticking down to May, when these condos’ ability to earn money as short-term rentals will evaporate. That’s leading to a rush of units hitting the market as owners try to get out of pricey investments that seem destined to plummet in value.

So far, listing prices haven’t reflected this new reality. Hence the empty open house.

“I think a lot of these owners are still in denial,” says real estate broker Dustin Miller ...

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