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You have a seemingly unlimited demand for a good at any price . Produce as much as possible and sell as much as possible is a more sensible approach. Each hous
by conanbatt 6y ago
You have a seemingly unlimited demand for a good at any price . Produce as much as possible and sell as much as possible is a more sensible approach.
Each house sold to a chinese person makes canada as a whole one house-worth richer.
- foolmeonce 6y agoYeah though when it collapses, i.e. due to foreign policy, local government will likely end up with the costs tearing down abandoned houses and a drop in real estate tax even on everything, I believe they call that phenomenon "Detroit". Attempting to keep a buffer for that away from the various interest groups is impossible even if you defy the physics of money in politics to adequately tax profits that can buy politicians.
- conanbatt 6y ago> Yeah though when it collapses, i.e. due to foreign policy, local government will likely end up with the costs tearing down abandoned houses and a drop in real estate tax even on everything, I believe they call that phenomenon "Detroit". That's an idea of what could happen, but it is not what is happening. Of course it would be better if the properties bought by foreigners were rented out, and the incentives to do so are very strong already (making rent money!), but even if they aren't, the worst case scenario is an eventual reposession of the property meaning again that Canada is one house-worth richer!
- jbay808 6y agoSo just pave over Canada's best farmland (the fraser river delta) with unoccupied houses built for "export", and don't worry about providing them with transportation networks, schools, etc under the assumption that nobody will actually live there?