4 ms·
You could call it hostility to Asian capital, but it shouldn't be confused with hostility to Asian people. Some Western governments have done a pretty poor job
by alexanderthe- 7y ago
You could call it hostility to Asian capital, but it shouldn't be confused with hostility to Asian people. Some Western governments have done a pretty poor job of preventing their real estate stock from being exploited by foreign investors. Rising real estate prices due to capital flight goes hand in hand with rising property tax revenue available to local government, so it's not necessarily a problem they were in a rush to solve...
- t1o5 7y agoThanks to Québec's "money for citizenship scheme" called QIIP which has a part in this BC housing bubble.
- vibrolax 7y agoThe Canadian federal government ended its similar program in 2014. According to an unsourced report in https://www.immigration.ca/how-ottawa-halt-thousands-quebec-immigration-investors-settling-vancouver-toronto https://www.immigration.ca/how-ottawa-halt-thousands-quebec-..., 50k of the 60k residents admitted under QIIP have moved to Vancouver or Toronto.
- t1o5 7y agoBecause Québec has full autonomy in cherry picking its immigrants, the QIIP money for citizenship scheme is alive and kicking. The federal govt. cannot do anything to stop this according to the Canada Québec Accord. https://www.immigration-quebec.gouv.qc.ca/en/immigrate-settle/businesspeople/applying-business-immigrant/three-programs/investors/index.html https://www.immigration-quebec.gouv.qc.ca/en/immigrate-settl...