Canada bans most foreigners from buying homes

Ban Canadian from buying US property

A ban on foreigners buying residential property in Canada took effect on Sunday, aiming to make more homes available to locals facing a housing crunch.

PE Private Equity in the housing market is what needs to be banned.

The effects of 2008 are still resonating with general misery and inequality.

This ban against foreign buyers affects mostly Chinese from China settling in Vancouver and thereabouts buying up houses and mansions Canadians cannot afford to buy. Chinese from China have $. Lots of $$. Lots of $$$.

Canada locals can't affording homes, most young people has very low salary. When they are at middle age, they have to raise family or other problems that keep them away from buying homes.

Good!

If you have one home that should probably be your lot. Anything more is greed and ostentation.

Good for Canada.

The insane inflation in houses there is partly driven by cashed up foreigners buying up real estate as "insurance" for the future - and in many cases not even residing there.

When the Chinese mainlander Huawei executive was arrested while stopping over Vancouver airport, she had 2 empty mansions in the city she could choose to stay in.

This, in a city of rampant homelessness and the worlds worst affordibility. It was Emblematic of the local housing disaster.

The city authorities in a conspiracy with greedy globalist mafia have made the city unlivable to normal local people. I'm from there but Glad I live in affordable and sane tokyo.

Rapidly increasing real estate values are a double-edged sword. Everyone loves to see their property value skyrocket, but it invites speculation and results in empty homes and unsheltered people.

Finally all the land is being returned to the native people of Canada. The white Anglo Saxon invaders should be allowed to keep their presently own homes on a lease only basis with no deed entitlement.

One Japanese acquaintance of mine moved to Okinawa several years ago. She lives in an apartment, so I suggested that perhaps she should buy a house there. “Nooooo way!” she said. “Why is that?”, I asked. And she began telling me about how the Chinese were buying land and homes all over the place there.

Maybe Japan should try it here, especially when you consider young families and the problems Japan is having with the falling birth rates. This mad buying of the Chinese would just exacerbate the falling birth rates.

As assets like real estate become easier to obtain from halfway around the world it makes sense that these laws are coming online. You can't have situations where citizens are priced out of their own countries.

Kipling

This is just a knee jerk reaction...

You don't know what you're talking about. This has been an issue for the past quarter century, in the lead up to the hong kong handover. The measures come after extensive handwriting and debate.

@JeffLee--Handwringing?

More surprising than two homes was that Ms. Meng had about seven passports. The yoga instructor acquaintance pledging hundreds of thousands for her bail may have arched a few eyebrows as well.

I have been looking at buying a place in Alberta and I have noticed the homes slightly dropping and also a lot of bank owned properties. But something I read today it is illegal for a bank to list and or sell a repo below list value. So, it appears buying repo for me is not going to be the way I will go should I return back.

Torafusu

Yes, blame autocorrect.