The worry is that no one on the coast will be able to get a mortgage today, because the banks are pretty funny about being sure that the person that they are loaning millions of dollars to, actually has title to the land.
I heard an article today on CBC Radio about the Tsawwassen Band, which apparently getting into house development in a fairly large way. Every house is a leasehold and lender 'caution' is one of the issues.
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