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This has to stop, unfortunately a lot of people like the money coming in, and politicians often don't have the most effective policies. I think the inflow is f
by jollybean 5y ago
This has to stop, unfortunately a lot of people like the money coming in, and politicians often don't have the most effective policies.
I think the inflow is fine, but there should be hefty taxes associated with the fact that the property is made valuable by the civic infrastructure in place in the country which only citizens are paying for.
One thing they could do is build apartment buildings in less sensitive areas, and designate them as 'foreign ownership allowed'.
Literally buildings would get built and remain largely empty, as a form of 'investment' (this happens in China) and so long as it wasn't affecting local prices too much, it'd be fine.
I wonder if they should pick a spot in Southern Ontario and declare it such a 'zone' where they only build 30 story buildings for this purpose.
Of course, the nature of the economic waste is laid bare.
It might be more appropriate for the local governments to be selling a special kind of bond or some other financial instrument designed for this purpose.