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Serious question. With the borders closed have there even been many foreign home buyers?
by rkk3 5y ago
Serious question. With the borders closed have there even been many foreign home buyers?
- ALittleLight 5y agoMy understanding is that the foreign buyers use the real estate as an investment, so they wouldn't be deterred if they couldn't visit their property in person.
- accountofme 5y agoThe same thing is happening here in Australia (foreign investment). Frankly, this might backfire for Trudeau, as yes housing prices are insane, but a lot of voters also own houses. Anything that could now cause prices to drop is seen as a negative and therefore will find voter backlash. Labor in Australia tried something similar at the last election with IIRC removal of negative gearing (tax cuts for investment properties), they lost.
- kenned3 5y agoThey are using housing to jump the queue for immigration : https://www.cic.gc.ca/english/helpcentre/answer.asp?qnum=653&top=6 https://www.cic.gc.ca/english/helpcentre/answer.asp?qnum=653... it gives them a place to flee later in life. many of the houses bought by foreigners are vacant and have never been occupied. For a gimps into this, look at Meng Wanzhou’s Vancouver mansions How many mansions does a chinese national need in Vancouver?
- rkk3 5y ago> They are using housing to jump the queue for immigration : That is a link to a startup visa program... > it gives them a place to flee later in life. many of the houses bought by foreigners are vacant and have never been occupied. > For a gimps into this, look at Meng Wanzhou’s Vancouver mansions So Vancouver is expensive because a Billionaire's daughter has a 4m USD and a 11m USD Mansion ?