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>You guys cannot choose which aspects of capitalism you want to like Yes they can, all countries do this. Minimum wage laws, environmental protection laws, pro

by learc83 11y ago

>You guys cannot choose which aspects of capitalism you want to like Yes they can, all countries do this. Minimum wage laws, environmental protection laws, progressive taxation etc... All designed to restrict elements of capitalism we don't like. >You cannot be allowed to invest freely in other parts of the globe Their are all kinds of property restrictions on foreigners in many many countries. Until 6 months ago foreigners couldn't buy property in China without first living there for a year. If a country wants to restrict foreign property purchases that's their business. They don't owe anything to other countries who let their citizens buy property. The reason those other countries allow foreigners to buy properties is not altruistic, it's to attract investment. They would continue to allow Canadians to buy homes even if Canada completely shut their citizens out. But if Canadians started driving up local home prices to the point that they are causing problems, they would add restrictions.

paganel 11y ago
> The reason those other countries allow foreigners to buy properties is not altruistic, it's to attract investment. So Canada doesn't want FDI, got it. Well, good for them, it means they're self sufficient. It's interesting because when the going was good, meaning when Canada was making tons of money out of selling their mineral riches to China, I didn't use to hear so many bad stuff about the Chinese. Now, when some of those Chinese people want to invest their money back into Canada somehow it's bad for the middle class Canadians. I'm missing something, because I can't make sense of all this, but I'm just a programmer.
- mthoms 11y ago
  The situation is much more complicated then you are making it out to be. For one, this investment in high end residential property only really benefits a select few elites, not the general population. Of course it does generate some taxes - the debate is whether this small benefit is worth it considering the long term picture. You're using the word "investment" to make it sound like they are starting local businesses that create well-paying long term jobs, grow the economy, and contribute to the community. The truth is that these houses sit empty 11 months of the year (or more). Lastly, guess where that profit is going to end up when they sell? Not in the Canadian economy like it would have if a purchased by a Canadian. So again, is this a net gain? It's hard to say, but don't over simplify it.

by learc83 11y ago

paganel 11y ago

> The reason those other countries allow foreigners to buy properties is not altruistic, it's to attract investment. So Canada doesn't want FDI, got it. Well, good for them, it means they're self sufficient. It's interesting because when the going was good, meaning when Canada was making tons of money out of selling their mineral riches to China, I didn't use to hear so many bad stuff about the Chinese. Now, when some of those Chinese people want to invest their money back into Canada somehow it's bad for the middle class Canadians. I'm missing something, because I can't make sense of all this, but I'm just a programmer.

mthoms 11y ago
The situation is much more complicated then you are making it out to be. For one, this investment in high end residential property only really benefits a select few elites, not the general population. Of course it does generate some taxes - the debate is whether this small benefit is worth it considering the long term picture. You're using the word "investment" to make it sound like they are starting local businesses that create well-paying long term jobs, grow the economy, and contribute to the community. The truth is that these houses sit empty 11 months of the year (or more). Lastly, guess where that profit is going to end up when they sell? Not in the Canadian economy like it would have if a purchased by a Canadian. So again, is this a net gain? It's hard to say, but don't over simplify it.