4 ms·

The very fact that you are trying to rationalize someone buying multiple homes at the expense of someone trying to buy their first home highlights the problem.

by akudha 5y ago

The very fact that you are trying to rationalize someone buying multiple homes at the expense of someone trying to buy their first home highlights the problem. Take Canada for example. A whole lot of homes are bought by Chinese buyers and are sitting idle, at the expense of Canadians trying to buy their first home. How can you say this is morally right? It is all find and dandy for the Chinese buyers, but what of Canadians?

silicon2401 5y ago
This is a great example of the many flaws in globalism. If Canada were to put higher restrictions on foreign real estate purchases, Canadians wouldn't be in such a pickle. The flaw of generosity is that it leaves you vulnerable to being taken advantage of, which is what's happening in this case.
- akudha 5y ago
  If such laws are put in place, it would handle only foreign buyers. It still wouldn't handle local born rentiers. There should be some kind of robust policy change. It would be hard, since landlords aren't exactly a friendly bunch (just look at San Francisco).
  - silicon2401 5y ago
    That's fine, there's no magic bullet to any issue. I don't have an issue with landlords; property is a human right and that includes the right rent it out (similarly, I expect the freedom to rent if I want to in a private contract with a property owner). But if citizen landlords are being abusive, then there should be separate legislation to keep them controlled as well.
- refurb 5y ago
  Canada’s rate of home ownership has never been higher. Data on foreign purchases puts it in the low single digits in cities like Vancouver. It’s mostly Canadians driving up the cost of housing. I mean, how many foreigners are buying in Winnipeg where prices are way up?
mc32 5y ago
In this case I think countries need to implement reciprocating laws. If you as a Canadian have restrictions when buying land or real estate in China, then Chinese should have similar restrictions imposed to them in Canada. Obviously China should reciprocate if Canada is stricter as well.
closeparen 5y ago
Would it be moral to collapse the wealth of the 70% of Canadians who own homes?
deleted 5y ago
[deleted]

by akudha 5y ago

silicon2401 5y ago

This is a great example of the many flaws in globalism. If Canada were to put higher restrictions on foreign real estate purchases, Canadians wouldn't be in such a pickle. The flaw of generosity is that it leaves you vulnerable to being taken advantage of, which is what's happening in this case.

akudha 5y ago
If such laws are put in place, it would handle only foreign buyers. It still wouldn't handle local born rentiers. There should be some kind of robust policy change. It would be hard, since landlords aren't exactly a friendly bunch (just look at San Francisco).
- silicon2401 5y ago
  That's fine, there's no magic bullet to any issue. I don't have an issue with landlords; property is a human right and that includes the right rent it out (similarly, I expect the freedom to rent if I want to in a private contract with a property owner). But if citizen landlords are being abusive, then there should be separate legislation to keep them controlled as well.
refurb 5y ago
Canada’s rate of home ownership has never been higher. Data on foreign purchases puts it in the low single digits in cities like Vancouver. It’s mostly Canadians driving up the cost of housing. I mean, how many foreigners are buying in Winnipeg where prices are way up?

mc32 5y ago

In this case I think countries need to implement reciprocating laws. If you as a Canadian have restrictions when buying land or real estate in China, then Chinese should have similar restrictions imposed to them in Canada. Obviously China should reciprocate if Canada is stricter as well.

closeparen 5y ago

Would it be moral to collapse the wealth of the 70% of Canadians who own homes?

deleted 5y ago

[deleted]