In Chapter 1, sub-section 1.4 of the 2022 Canadian budget, there is a rather remarkable new rule that bans foreign ownership and investment in housing for a period of two years. [LINK HERE]
“To make sure that housing is owned by Canadians instead of foreign investors, Budget 2022 announces the government’s intention to propose restrictions that would prohibit foreign commercial enterprises and people who are not Canadian citizens or permanent residents from acquiring non- recreational, residential property in Canada for a period of two years.”
Two points about this issue. First, can you imagine the media outcry if a conservative prime minister would ever make such a proposal? Quite a leftist change from the previous mantra “diversity is our strength”?
Second, considering the issue of foreign investment that creates housing, there is a likelihood this could backfire. The new position of Canada will certainly put more upward pressure on the U.S. housing market. Every action tends to have an equal and opposite reaction. It will be interesting to follow this and see where it leads.
OTTAWA, Ontario (AP) — Prime Minister Justin Trudeau’s government announced Thursday it will ban foreign investors from buying homes in Canada for two years in a bid to cool off a hot housing market.
Finance Minister Chrystia Freeland took a number of measures to tamp down speculation and demand amid record home prices in announcing the federal budget for the year.
The government announced a two-year ban on foreign home buying as well as higher taxes for people who sell their home within a year, though both measures include multiple exceptions including for permanent residents and foreign students. (read more)
Imagine the apoplexy if Donald Trump made such a nationalistic move.
As with most things leftist, European, political and currently Canadian, the ideologues are all about advancing globalism until some consequence reaches their doorstep. Then suddenly changes need to be made and protectionist programs like this new 2022 housing rule are triggered. Can you think of something more economically nationalist than this rule?
Alas, we beat the dead equine. In order for entrenched left-wing ideologues to continue advancing their insane ideology, they must pretend not to know things.
Well I can’t stand that fascist POS, Trudeau, but I wish we would do that here. Foreign and domestic investers are buying up American houses and pricing working class American citizens out of the market. It’s disgusting.
We have a huge Chinese problem
Yep,
We are well versed in the Greater Vancouver Real Estate market as we have owned property here since the early eighties.
Work took me into homes on Vancouver’s Westside that could be worth $5,000,000.
No mortgage, one or two Asian students would live there, and would be sent $10,000 a month to cover other expenses from China or H.K.
Vancouver has a vacant home tax. It was implemented because many Asians simply “ parked “ cash in an expensive “piece of dirt” and leave it vacant so as to avoid tenant issues.
As I type this directly across the street is a home that an Chinese Realtor bought for 2,400,000 ( Can) in the summer of 2021.
The house is 14 years old, we watched the old one being demolished and the new build.
The new owner totally gutted it…and has we are told spent something like $600,000 to 700,000 on upgrades.😟
Asked an aside the family just bought a Porsche S.U.V ( electric) to add to the fleet.
Trudeau as usual is virtue signalling he is maybe the worst of a really bad group.
Cheers!
Certain Chinese want to quietly get money out of mainland China and HK in a way that doesn’t arouse undue suspicion of the CCP elders. What’s happening in Vancouver is happening elsewhere too. It’s a wealth hedging tactic – not unique to the Chinese.
Agreed,
A close relative is an international ship’s pilot, and has many a conversation with captains from foreign vessels upon them entering British Columbian waters.
“Well connected” Chinese could bring out approximately $2,000,000 person and “ invest” the cash in the West.
Ismaili, Korean and a few well healed Europeans are also buyers, but they are “ small fry” compared to the Chinese.
Cheers!
Just like NY city where it was built by the working man and woman and now it’s owned by foreigners because the working man and women can no longer afford it.
Yes, I sold my house late 2020 and now am priced out of the market. In just over a year! And now, we’re faced with a border surge. Where are the illegals going to be housed?? There is very little (expensive) housing here
A neighbor had her $189.000 house purchased in 2018 and is now valued at $310.000 and it’s all being done on purpose.
Those massive funds like blackrock and vanguard and others are following the WEF orders of buying up homes and making it impossible to buy houses. Many of our local real estate sales forces I believe have become the purchaser for these funds.
“You will own nothing and be happy”
Isn’t this just another version of a Russian Oligarch mega-yacht parked in Germany? You probably have the kids / relatives of a Chinese government official parking their some-are-more-equal-than-others pay in foreign assets, where it can’t be confiscated by other Chinese officials when they fall into disfavor and are sent to a reeducation camp.
Indeed we do….and its going to bite us sooner than later.
With the “vacation birthing” that’s gone on in CA, we’ll have a foreign “citizen” problem when they come back to claim their “birthrights.”
If the government is going to confiscate your house, the friends of government does not want to bid against foreign buyers at auction.
This little jewel is saved for their friends that will profit from the confiscation of your property.
Yes, my first thought is how is this related to confiscation of property.
Let’s add farmland. Admittedly the biggest owner of it is Gates, but the Chinese have scooped up quite a bit as well. Insanity.
Gates needs a zillion acres on which to grow his meat-substitute “food”. No cowsies allowed.
Actually several acres will be reserved for raising beef for our elites.
Its doubtful they are ALL vegans.
No “cowsies” allowed for us however.
We will get the “privilege” ofdining on meat substitutes.
Or ersatz substitues for real food.
Gates is 52nd on the list of largest farmland owners!
And the Chinese?
And Gates if he works through others so his name is not on the legal documents?
At the rate they are buying, probably as a whole, in the top ten.
For sure, Asians own massive amounts of agricultural land in our Prairie Provinces.
Cheers!
Have scooped up and continues to scoop up.
China doesnt need to invade the USA militarily.
Just buy up property and move in peacefuly over time.
And voila!
We have been annexed by China!
It already owns DC and most “domestic” corporations in one way or another and likely influences some states and localities.
F the CCP!
I have one word for them –
“Wolverines!!”
It’s all smoke and mirrors.
Turd eau doesn’t give a rats a$$ about Canadians.
He has proved that in the last 2 years.
turpin: I admire blunt, truthfull language.
Occasionally Turd-Boy comes close to creating good policy.
Yes they are. when we sold our home in California at the end of 2014 in moving to Oregon our neighvor was also selling and moving . Both house sold at the same time. Both to Chinese profesionals working here.
You are coreect about competition from well funded foreign buyers as well as business investors driving up home values.
For several years.
The value of our home in Southern Oregon has doubled in the seven years we have been here as more people want to either move here or buy houses to rent.
Very few young native born Americans can afford a house.
And developers rarely if ever build small starter homes. Not hugely profitable.
”Diversity is our strength” is a fine message for a modern, globohomo multi national corporation.
For a nation, nah.
A nation needs a unifying concept.
Like we used to have
Is this to stop Vanguard / Blackrock, etc. from buying real estate?
My first thought was this is a move to help crush their market and drive prices down destroying wealth of their own people.
Or, conversely, make homes cheaper/more reasonable for the average Canadian to buy.
There is no good in evil.
the easiest way to do that in the US is to DEPORT the MILLIONS of illegals…..housing shortage is just ONE of the many problems they exacerbate by their presence….overcrowded prisons and schools….packed highways….bloated budgets (local, state, and federal) and many others could be added to the list…..FEDERAL deficit spending alone is $135B/year and government estimates are ALWAYS seriously lowballed, and this before Slo Joe’s recent “olly olly aks in free” policy
Not likely.
The demand for “dirt”is quite something to behold in Greater Vancouver and to a lesser extent Greater Toronto.
It is viewed as an asset class by many, multi families will by a home, and just sit on the “ dirt”
I am friendly with several “ Punjabi’s” they don’t sell dirt.
Many still have the family “dirt”in the Punjab.
The Chinese are slightly different they have the really big money.
Provincial governments rely heavily on the tax on real estate. As well as the income tax on the huge earnings of realtors.
Cheers!
Deck. When you say Greater Vancouver, is that Vancouver Island?
It is Vancouver proper on the BC mainland.
Sorry, I was out and about.
As Sparky below stated, it is Vancouver City and the neighbouring cities.
All of which are experiencing massive growth.
Vancouver Island is also experiencing a surge in population and home prices.
IMO Vancouver Island is one of the most liveable places going.
Cheers!
Over 40 years ago, it was known as “Hong-couver” for obvious reasons.
Those firms probably have a subsidiary presence in Canada.
.
The foreign ban might facilitate their acquisitions.
BlackRock (multi-national corp )
.
https://www.blackrock.com/ca/investors/en?switchLocale=Y
…or they will simply create a Canadian corporation subsidiary and waltz around any ban!
Creating a new corporation. Yeah! Good jobs at good wages! Yeah!……..not.
New Canadian home ban law bypassed with loophole in 3……2…….
keep going.
a TRUDEAU AND CAMP “canadian” subsidiary.
trudy is evil, but not dumb.
he is concentrating the market and no doubt has some position here.
count on it.
My bet is it helps them.
My first question too. Blackrock is incorporated in the US, headquartered in New York, NY. Then there is Blackrock Asset Management Canada. So….? The loophole for foreign students is the only one of several that the Hill article mentions.
Or is it just one small step towards banning all private ownership of property?
That’s a thought I didn’t have. Maybe! You know it isn’t for the citizens
Maybe it is to reserve Canadian real estate for the Canadian version of Blackrock.
don’t need to reinvent the wheel or compete with the large fundie in the universe.
trudeau has no doubt worked out some special class of strutured canadian subsidiary, with either BRock or Vanguard, or both, with his name as a primary….probably headquarters and registered in his area.
you want property in canada, no problem…go see my office…we’ll get you hooked up.
EULA: We are only take contracts for buyers of 1 Billion and greater!
and that’s that.
reason: covid vaccine money just dried up. How else will trudy and his beach friends continue ?
be prepared: this same kind of central government action is about to happen here in the US and everywhere else.
Covid money has dried up. pandemic is over. They’ll have to “slum” up for some other “crisis”.
count on it.
Foreign buyer in the Canadian housing market mostly means Chinese buyer. The BRICS/Globalist split advances?
Fascism is almost a synonym for nationalism. The internationalist fascist oxymoronic bubble had to pop.
My understanding is that Chinese nationals have an enormous presence in the Canadian real estate market and it has been increasingly difficult for anyone else to purchase homes in Canada as a result.
By any other name, this is a race-based exclusionary act.
In B.C. this was certainly true a while back. Tons of buyers fr/ HK when the Brits gave it back to China.
I wouldn’t guess it’s changed much in then past 20 years.
Don’t know about other Provinces, tho.
Chinese nationals buying real state in Southern CA are driving prices up as well. In certain areas school counselors find teenagers have been sent alone from China to study High School here by themselves. Parents living in China own the house.
test
why did my comment get flagged “Awaiting for approval”?
new user or acct?
Too many links, easy to do with a simple tweet, or simple fate, filters get wonky.
Not a big deal, not worth fussing about really, simply wait to see what happens usually does the job.
Nope, not a new user, no link, just a plain comment about Taiwanese in San Marino since the 90s.
I don’t “tweet”, no social media except a few sits like this one.
Well, whoever heard of a western nation implementing race-based policies? /s
keeler: It’s impossible for Sparkle Socks to be racist. He dresses in costumes from all nations, races and religions.
go to Vancouver and see the truly massive # of condos/homes owned by Chinese – I was there – it was all the locals could talk about – middle class Canadians were selling modest homes for $1M+ to Chinese moving their money to Canada; an auction. And…they stay vacant.
This has been going on for years.
Our 3 bed/3 bath 1400sq ft townhouse in Surrey (overrun with East Indians, I heard about 1000 per week incoming from India for a long time too) was purchased in 2016 for 475,000 and 5 1/2 years later we could easily sell for 1.0-1.2 million. Happened to the houses first but now they’re too much so condos are spiking.
Absolutely no benefit unless you downsize or move out of BC. You could buy 3 detached houses in Alberta with that money.
I don’t trust their intentions, I’ve also heard talk of a capital gains tax on the sale of your primary residence. So, drive prices up and when the market crashes and people get out….$$$$. Which will happen as interest rates spike to cover inflation and renewing mortgages becomes impossible for many. Hey, just like after Carter in the early 80s.
A very large chunk of Real Estate in Vancouver is owned by Hong Kong Wealth.
Hence the name Hong Kouver.
Diversity has never been anyone’s strength.
IMO Affirmative Action is systematic government racism.
In the case of all too many of them, they better their own nations by leaving them.
Often as well, entire settlements are being emptied of residents as they are recruited by parties with nefarious intent, actually weakening their countries, crippling their economies, and furthering the pressures that encourage migration.
Frank Goshen. Wearing pink panties.
Trudy isn’t in charge.
Exactly, we need to look at this through the eyes of Soros and the WEF. What will they get from this.
This will put additional demand on California, Oregon and Washington State coastal real estate being targeted by wealthy Asian buyers. If the CCP makes moves on Taiwan they will have a mass exodus!
Sad for any conservatives still trapped on the left sides of Washington and Oregon. Just last month a Chinese backed crypto currency center was built in one of the most conservative areas in Eastern Washington. The invasion is happening everywhere
Yes – I’m in CA, trapped. But I noticed Nevada and Colorado have heavy Leftist state governments. And the people there are pretty conservative. Invasion!!
There is an interesting caveat phrase in the section of the law cited by Sundance, permanent residents can own residential property. What is the definition of a “permanent resident”??
Of course, I would also want to see the definition of the “Canadian Citizen” as well.
I also find it fascinating that Sundance resurrected the tweet from Justin Trudeau from 2017. That tweet was the height of the US Democrats and RINO”s calling President Trump a bigot for his border and “anti-immigrant” stances as well as the Pope going to the US Southern Border to offer mass on the Mexican side of the border. Trudeau was offering also offering entry into Canada for anybody crossing over the US Southern Border and who made it to the US – Canadian Border.
Recall that President Trump offered to start moving illegals to the Canadian Border and Trudeau hung out the NOT Welcome Sign because those illegals did not have jobs IN CANADA nor enough cash on-hand, which was an entry requirement at the time.
There is tons of bigotry and hypocrisy slurping over with this story, past and present.
At least they are passing a budget. Something we have not done in a decade years or more.
What good is a budget when the citizens’ dollars are converted to sovereign crypto by mandate?
A thinking man would have allowed foreigners to continue to buy newly constructed real estate only. This would have spurred the construction industry, increased the availability of housing, and ultimately driven down the cost of housing over time through controlled increases in supply.
Damned smart !
DO IT HERE. The Chinese are buying millions of acres of farm land here. But our brave congressmen just sit back and laugh and do sound bites. Forget Russia! China will take over from within. The stupidity of the men in power in this country is astounding. Their love for money is going to destroy our great country. Obama must be so proud, was his intention from day one. Low income housing next to upper middle class neighborhoods, Obama put that in place. Trump stopped it and Biden put it right back in like CRT in military. Thousands of good men thrown out of military because of refusing a poison vaxxine. The time of urgency is just not being felt by those that can take action. What is wrong with all these stupid, soft men in this country. No one should sell their land to Chinese.
Money drives some of them. But I think it is hatred that drives the worst of them. They would kill unborn babies and molest little children and encourage others to do the same, even if it cost them money to do so.
They hate God and are eager to destroy all that He loves and calls good.
We aren’t fighting against humans.
This is demonic.
Only housing. No such limitation to commercial, land, mineral rights etc.?
What’s to stop them from buying up or building new ‘luxury hotels’ to live in until this ban is lifted.
Would argue that was an intended oversight. They still want the foreign money to keep flowing.
I don’t see how banning the communist Chinese from purchasing housing in Canada is a “win” for Trudeau. They’re the ones with all of the disposable income and they’re going to spend it somewhere.
I wonder if Freeland got out in front of her skis again? Like she did when she told the world about the “on/off switch” the elites have to control bank accounts of…wrong thinkers.
Is that even legal?
Oh wait… the Canadians don’t have a constitution, do they?
I guess they are turning into another Mexico… Heck, if Canada is gonna turn to Mexico, I’ll take the latter… at least they got good weather and much better food.
And the Canadian Gov? IMHO, they are THE Cartel in Canada.
Anyone know, or want to make a guess? “A big bank is in trouble, and no one knows which one or why” https://www.americanbanker.com/news/a-big-bank-is-in-trouble-and-no-one-knows-which-one-or-why
https://www.userwalls.com/n/big-bank-trouble-2941094/
Im curious what role Blackrock has in this and how it affects single family home zoning in both the US and Canada. Given Canada’s willingness to beta test the rise of corporate fascism I’m not believing Freeland or Trudeau trying to tell us this has to do anything with keeping prices down.
Everything out of the Canadian government right now feels impulsive and devoid of reason. They are clearly taking directives from someone else. A rhetorical statement, I know.
The commonality with any leftist action is that they know that media will never criticize them and ultimately embrace the narrative, and punish anyone who questions it. The media is the cancer. Excise the cancer and burn it.
Does Turdeau consider chinese communists foreign?
Apparently not.
Definitely not!
Who would want to move there under Trudeau
We should have done that here, during the scamdemic. we had the Chinese perpetrating a massive health crime on us and then coming in to buy up all our depressed real estate. Almost as if they knew there would soon be a new foreign invasion on our border who would need housing, obviously to be paid for by the same cash depressed U.S. taxpayers.
So now Justin will finally find out how many Chinamen can fit in a Winnebago parked on a street in Vancouver.
Read this from Martin Armstrong, lots of loopholes in this.
https://www.armstrongeconomics.com/real-estate/canada-bans-foreigners-from-real-estate-market/
VAIO: Well, naturally! The purpose of new laws is to create new loopholes. After all, laws are no good if everyone benefits, right?
I never understood any country allowing a foreign entity to purchase your own country’s land. I understand you would want commercial enterprises but that should be based strictly on a case by case basis with permissions needing to be granted. Housing, farmland, other resources… These never made sense.
It makes sense if your goal is to destroy a nation.
Precisely! Especially when you can buy off domestic Shills aid in the destruction.
I never intended to buy any residential property in canada, but now, just so I can protest, I’m going to attempt it.
Are you “Canadian”
Canadians own a lot of condos on the Atlantic coast of Florida. I’d like to see the US pass the same bill.
https://en.wikipedia.org/wiki/Permanent_residency_in_Canada
Yeah, we certainly wouldn’t want to stop this from driving home prices up for Canadians:
China’s millionaires are making housing rates in Canada, Australia and New Zealand go through the roof as Jinping cracks down on private sector – 6 Jun 2021
https://tfiglobalnews.com/2021/06/05/chinas-millionaires-are-making-housing-rates-in-canada-australia-and-new-zealand-go-through-the-roof-as-jinping-cracks-down-on-private-sector/
After all, it’s RACISSS!:
A ‘China Shock’ to home prices: U.S. Federal Reserve study
Study used methodology deemed racist by some in Vancouver’s housing debate.
September 18, 2021
https://biv.com/article/2021/09/china-shock-home-prices-us-federal-reserve-study
Now, watch what happens when the housing market here which is going to get nasty as mortgage rates skyrocket, effectively lowering the value of vastly overpriced homes via the mechanism of a smaller number of people who will be able to afford the monthly payments. Throw in continued inflation and a recession. Who is going to keep the massively inflated values up to continue high property tax receipts? Chinese millionaires? Blackrock?
Homebuyer “Pessimism” Hits Bleak Record on Sky-High Prices, Spiking Mortgage Rates. Great Time to Sell, Though. Just Do It
Apr 7, 2022
If it continues, “we expect to see an even greater cooling of the housing market than previously forecast”: Fannie Mae.
https://wolfstreet.com/2022/04/07/homebuyer-pessimism-at-bleak-record-on-sky-high-home-prices-spiking-mortgage-rates/
Black Rock conglomerate (headed by billionaire oligarch Larry Fink) is a commercial entity that is buying up residential housing.
With the intent to make all of us become the serfs that pay rent, never own.
Can you imagine Mitt Romney or Mitch McConnell or the D’s supporting anything like this? OF course not. They LOVE foreigners getting rich off America. They’re globalists first, Americans last.
I wish corporations could not make massive land purchases that they are not using
to house their office staff or manufacturing facilities.
This seems somehow odd for sure. Maybe it is just the result of crunching some numbers. Possibly they did it because a big increase in housing costs will force the government to raise basic pensions and all social support payments — especially since food inflation is happening at the same time. I know they have a long-planned 10% raise in pension chequess, starting in July. Not sure about welfare.
I live in America and have a few relatives who married Canadians and winter in the States. My grandad got social security and pension with grandma in 2 countries.
Troodolt is a dictator now and Hitler blamed rich Jews, while Justin blames Chinese. This keeps the Canadian dollar up.
Changing the subject, Chinese are taking dollars out of their country. I had an employee who had trouble moving money out of venezuela.
The Chinese multi multi millionaires are driving up housing costs because they are rich and can offer higher and higher prices that middle class cannot afford. See Vancouver
After reading all the comments here I must say that Canada is not alone, they are in the exact same position as every other Western country.
The Chinese have been buying up everything they can get their greedy little yellow hands on for decades WORLD-WIDE !
99% of politicians are no more than treasonous puppets, while people bark at them they miss the point of who made the Chinese so powerful ?
Two anwsers , I did , I bought a power tool that was made in China, I was forced to as their are no other suppliers and I need to work.
This sent my country’s currency to China, they spent part of my money buying the farm nextdoor.
I would feel comfortable saying that nearly everybody here has contributed to their own countries demise for the same reason.
You are soft-blackmailed into supporting the NWO goal as they make China the next world’s superpower.
How many got soft-blackmailed into taking the biojab just so they could put food in their children’s mouths !
Different subjects yes, but the but the approach is the same, this now is happening across every aspect of society, don’t send your kids to woke school, the state takes the kids, blackmail pure and simple, it’s just done in such an underhanded and cunningly evil way most fail to see it.
The Chinese style of government has been deammed the future control system for the NWO , the land/property grabs are a means to an end.
You will own nothing and be happy !
Well when the time comes I’m takin a few of the barstads with me !
In the past 4 years at least 5 Chinese families have moved onto our street here in Canada 🇨🇦. They bring their culture of respect to our neighborhood their beautiful children who are assimilating with the Canadian culture and they have brought their wealth into our Town .
As for Trudeau he MUST GO with his NDP Coalition of tyrannical medical apartheid.
Hmm. I am friendly with my Chinese neighbours.
However Richmond B.C. ( home of Vancouver International Airport) has many stores that are quite open about wanting non Chinese customers.
Chinese are not monolithic.
Cheers!
Ban them permanently. This is not a hard concept.
Diversity is our STENCH. Brownface Blackface Trudeau is Asshole.
8 years too late
Now do America
My former neighborhood was totally bought out by Chinese and Indians.
Nice town, nice neighborhood,
they didn’t ruin it at all,
except for the prices that were driven up by their
foreign monies, buoyed by their families
that were slowly being trickled into the US
I do not like Trudeau, but we absolutely need to do this in the USA.
A broken clock is right twice a day.
https://www.insuranceride.com/why-did-japan-burst-the-real-estate-bubble-decisively-in-the-1990s-instead-of-allowing-house-prices-to-develop-freely.html
…”On September 22, 1985, the finance ministers and the central bank governors (G5) of the United States, Japan, the Federal Republic of Germany, France, and the United Kingdom held a meeting in the Plaza Hotel in New York to reach a joint intervention of the five governments in the foreign exchange market and induce the US dollar against major currencies Agreement to devalue the exchange rate in an orderly manner to resolve the US’s huge trade deficit. Subsequently, including Japan, Germany, France, the United Kingdom, and other countries actively sold the US dollar, which directly led to the market’s tide of US dollar sales, and as a result, the US dollar quickly depreciated……”
all while we blithely sell all our farmland to China
Sorry, but the ban concerns only a very small number of people and businesses. It does not concern Temporary Foreign Workers, Students, Permanent Residents, Refugees. That’s like over 90% of immigrants to Canada.
“foreign commercial enterprises” – over 95% of corporations operating in Canada are incorporated in Canadian jurisdictions, including those owned by foreign entities.
That’s just a move by Trudeau to appease his coalition partners, the socialists. Crazy Jacinda from NZ did the same thing when she took power. Did it make her less communist? No.
I wish Florida would stop corporations/business from buying homes and apartment complexes. They are becoming landlord kings and are quickly making owning a home impossible for the average person. This is one area that DeSantis has earned an F in my book.
Several home buyers in the Vancouver Metro area negotiated the highest mortgages they could afford with the help of very low interest rates. Trudeau’s lefty imbecility and reckless guesswork tinkering including climate change and his new Budget’s costly expansion of the welfare state will likely lead to numerous economic negatives eventually including higher taxes and troublesome over leveraged mortgages and investments that were purchased with borrowed money.
The first wave of these people have been selling their homes and moving as far away from Vancouver as possible to live in a more affordable home. But this outward home rush has created very hot housing markets in those distant locations.
If the authoritarian nitwit’s prohibition leads to decreased house prices, many of the over leveraged will be in serious trouble and some might just walk away from their homes like they did during past high interest rate and inflationary times. Myopic Gov’t intervention in any market is often disastrous. His exemptions for most foreign Asian home buyers will please Trudeau’s Chi Com allies but hurt many overleveraged Canadians.
Nice Post!
Cheers!
Here in America sure bans foreign buying home too, especially Chinese people,
Meanwhile Canadian investors are scooping up American homes and turning them into rentals. The impact this has had on the price of homes has been devastating to homebuyers.
What has OUR government done to help Americans?
Not one damn thing.
This is Blackrock with government support buying up U.S. homes and turning the nation into renters.
The Economic forum; Gates, DeCario, Clintons, Soros, Jobamas etc, are working tirelessly to buy everything they don’t own & don’t even try to hide the takeover. First on their website to us peons……….”You will own NOTHING & be happy.
This is what it looks like when evil prevails & good men stand by and do NOTHING.