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My 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.
by ALittleLight 5y ago
My 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.