Rich Chinese kids not to blame for the housing crisis in Vancouver: reality show producer

VANCOUVER (NEWS 1130) – With Canada’s low dollar and immigration policies, Chinese families are increasingly deciding to send their children to Vancouver.

It’s being discussed in the New York Times and has led to people on social media blaming the children of China’s one per cent for things like high real estate prices.

Producer of the reality show Ultra-Rich Asian Girls Kevin Li doesn’t think that’s fair.

“It’s just no more than trust fund kids, who we know today in Vancouver. I think they are talking about something that is quite new in terms of demographics but the reality of rich people has been around for a long time,” he points out.

“I absolutely think it’s a stereotype. People are looking for a reason why housing prices are going up, why this, why that, and this happens to be a very convenient demographic to choose.”

Li believes Chinese investment is good for Vancouver’s economy and its global reputation.