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And the Chinese know better and are buying real estate in Canada.

by epx 10y ago

personjerry 10y ago
The Chinese are also buying a ton of real estate in China. It just happens that a lot of Chinese have immigrated to Canada, especially Vancouver, and so tell their relatives about the place, and many of them have fairly wealthy relatives who are all too eager to snatch up the rapidly rising real estate.
- neximo64 10y ago
  Its also just recycling their trade deficit back in. It is infact Canadian funds being used to buy those homes, the savings which came from the excess of imports to Canada to exports to China. A solution to the structural issue is to export more to China so there aren't so many savings stored in real estate.
  - pooper 10y ago
    Whenever Canadians complain about Chinese speculation in real estate, I wonder why they don't try to create more inventory. It is probably naive to think this way but AFAIK Canada has a lot of land and a housing boom can help extend and modernize urban infrastructure.
    - kogepathic 10y ago
      > I wonder why they don't try to create more inventory. They can't exactly conjure up more undeveloped land in the middle of Vancouver, Toronto, or Montreal. > AFAIK Canada has a lot of land Yeah, where almost no one wants to live. 90% of the Canadian population lives within 100km of the US-Canada border. If you ask people abroad about major Canadian cities, everyone knows of Vancouver and Toronto. Some people also mention Montreal and Ottawa, but after that very few people can name other cities (e.g. Calgary, Quebec City, Winnipeg) > and a housing boom Many people are now warning that Canada has a housing bubble. Given the country's history of policies, I wouldn't trust them to handle it well. The mortgage and banking industry are not as powerful as they are in America, but they have influence. I grew up in Canada but am currently living abroad, so I get to talk to a lot of foreigners on their opinion/knowledge of Canada.
  - cylinder 10y ago
    I buy a car from you for $5000. You then buy my shoes for $100. The money you used to buy my shoes used to be mine! So what?
    - neximo64 10y ago
      > So what? Uninvested trade surplus increasing the value of homes outside the surplus country, making it unaffordable for people who live there. Perhaps ask these to yourself, amongst owning your shows. - Do you own a home? - Do you earn little to no interest at your bank?

And the Chinese know better and are buying real estate in Canada.

by epx 10y ago

And the Chinese know better and are buying real estate in Canada.

The Chinese are also buying a ton of real estate in China. It just happens that a lot of Chinese have immigrated to Canada, especially Vancouver, and so tell their relatives about the place, and many of them have fairly wealthy relatives who are all too eager to snatch up the rapidly rising real estate.

neximo64 10y ago
Its also just recycling their trade deficit back in. It is infact Canadian funds being used to buy those homes, the savings which came from the excess of imports to Canada to exports to China. A solution to the structural issue is to export more to China so there aren't so many savings stored in real estate.
- pooper 10y ago
  Whenever Canadians complain about Chinese speculation in real estate, I wonder why they don't try to create more inventory. It is probably naive to think this way but AFAIK Canada has a lot of land and a housing boom can help extend and modernize urban infrastructure.
  - kogepathic 10y ago
    > I wonder why they don't try to create more inventory. They can't exactly conjure up more undeveloped land in the middle of Vancouver, Toronto, or Montreal. > AFAIK Canada has a lot of land Yeah, where almost no one wants to live. 90% of the Canadian population lives within 100km of the US-Canada border. If you ask people abroad about major Canadian cities, everyone knows of Vancouver and Toronto. Some people also mention Montreal and Ottawa, but after that very few people can name other cities (e.g. Calgary, Quebec City, Winnipeg) > and a housing boom Many people are now warning that Canada has a housing bubble. Given the country's history of policies, I wouldn't trust them to handle it well. The mortgage and banking industry are not as powerful as they are in America, but they have influence. I grew up in Canada but am currently living abroad, so I get to talk to a lot of foreigners on their opinion/knowledge of Canada.
- cylinder 10y ago
  I buy a car from you for $5000. You then buy my shoes for $100. The money you used to buy my shoes used to be mine! So what?
  - neximo64 10y ago
    > So what? Uninvested trade surplus increasing the value of homes outside the surplus country, making it unaffordable for people who live there. Perhaps ask these to yourself, amongst owning your shows. - Do you own a home? - Do you earn little to no interest at your bank?