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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 suc
by 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 agoIf 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 agoThat'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 agoCanada’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?