Quote:
Originally Posted by Cowboy89
I don't think this is the message that we want to send about investment in Canada. It's not like investors in other countries are soley responsible or even primarily responsible for pricing out local home buyers. They are merely small participants in the grand scheme of all transactions. They are being used as a scapegoat for our own obsession with owning Real Estate at all costs. Ownership rates in Canada are at an all time high of 70%. That's the biggest reason for the price appreciation.
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And US home ownership recently hit a 15 year low.
http://www.usnews.com/news/blogs/hom...to-15-year-low
Lucky that so many Canadians are buying Stateside to stabilize things to a certain degree. At 23% Canadians are the largest foreign buyers in the close to $80 Billion of foreign US RE sales per year.