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>I don't know how real estate market works in Canada, but I can totally see how 5% of buyers could mess up the market in the U.S.. 5% foreigner owned is not bi
by incomingpain 5y ago
>I don't know how real estate market works in Canada, but I can totally see how 5% of buyers could mess up the market in the U.S..
5% foreigner owned is not big enough to have an appreciable difference. How about funds buying real estate? What used to be around 10% went to 20% in 2020 and then went to 40% in 2021. Nobody will buy negative yielding bonds. It only leaves a couple other options.
- gorjusborg 5y ago> 5% foreigner owned is not big enough to have an appreciable difference I doubt it makes zero difference, but like you, it's just my feeling. Real estate investing could be a price driver, certainly. I don't know what it's like in Canada, but I know that in my location even individuals are buying second and third homes and renting them out as short-term rentals. Doesn't seem to be sustainable to me, and certainly is affecting local housing prices. One way I'd combat this is to ban short-term rental outside of hospitality zoned areas.