Quote:
Originally Posted by blankall
No.
Canada is one of the few countries in the world that does not properly regulate foreign investment in real estate. There are extremely large and well organized investment groups based in China that essentially move from country to country looking for soft targets to invest in. Canada is a very soft target.
Canada has responded to this by decreasing interest rates, which allows Canadians to borrow, but at the cost of huge personal debt.
Toronto and Vancouver are not "world cities". Go to London, Paris, Tokyo, New York, etc...those are "world" cities, and Vancouver and Toronto are nothing like them. There is no world economy, world class attraction, world class theatre, etc...There's just a real estate market that isn't properly regulated.
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Thats pretty much it. Try buying properties in London, Paris, Tokyo, New York, etc and see the hoops you have to jump through.
The Canadian Real Estate markets are being artificially inflated by wealthy groups that are trying to hide money and with enough of them operating in tandem they're not only succeeding at hiding their funds but actually growing them through artificial gains in property values.
Theres nothing real here.
If people loved living in Vancouver so much then why are most of the Foreign Purchased Homes vacant?
They're just a place to stash cash.