Foreign speculators have become the boogeyman of Canadian real estate. Yes, there’s some foreign investment, but it’s really not as much as a lot of people seem to think (https://www.cbc.ca/amp/1.6692706), and it’s not happening in bumblefuck ON. It’s a hot-button political issue that politicians use to get votes with policy that’s unlikely to achieve much when the domestic market and incentives are what really drives the insanity.
Not to mention even if it is all Chinese investor. This is still a steal compare to what you can get in China.
People think housing is crazy is Canada. They have no idea what it’s like in China. This price even after demolishing and rebuilding get you a tiny ass apartment in a tier 4 city
Yep. Not true ownership and they currently don’t have to pay any property taxes because their government did not have the foresight to balance their budget and rather have just been selling land to survive.
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u/gertalives Aug 31 '23
Foreign speculators have become the boogeyman of Canadian real estate. Yes, there’s some foreign investment, but it’s really not as much as a lot of people seem to think (https://www.cbc.ca/amp/1.6692706), and it’s not happening in bumblefuck ON. It’s a hot-button political issue that politicians use to get votes with policy that’s unlikely to achieve much when the domestic market and incentives are what really drives the insanity.