>>1082016 Your real estate prices are for Vancouver which has become wealth banks for grey Chinese money. Same thing with Toronto. The only ones who get burned when that loophole is closed is a bunch of corrupt commie chinks and people with a million + to spend on a house.
The mob is already aware and angry. It will filter into legislation sooner than later.
>>1082253 >legislation Isn't it a bit late for that and going against the grain of globalism? Won't meddling just cause unforeseen consequences? The mob has been castrated and impotent for 2 decades now.
Kind of a whistleblower article on Vancouver housing. I don't know that I share your sentiment about the loophole being closed or anything changing anytime soon. The politicians and old voters that call the shots are going to continue this as long as possible. Canada--to me--has become(or always was) a banana republic for people to come here, extract natural resources, and not give a shit about each other or the country. There is little solidarity as Canadians and little common ground to unite us. Hewers of wood and drawers of water. And houses, evidently. The level of political discourse is shameful, closer to resembling a discourse on hockey playoffs rather than global economic context.
There are large sects of Canadians that are just farmers kids trying to make a living, trying to be good people. But our economy makes up something like 0.1% of global trade. So we're getting overrun with people that prefer financial shenanigans and sleight of hand over building businesses. On top of that it seems like we're going full socialist(you never go full socialist) and our interest rates are decoupling with the US meaning our housing won't correct and my buying power is dropping.
If I were borne to a smarter family I would have moved to the US or at least hold USD and us stocks. Disappointing to think that holding another country's wealth would have put me in a better place but such is the nature of Canada. Many US stockholders no doubt are cheering the low dollar despite living in this country.
>>1082739 Housing didn't really correct in 08 in Canada, it's also very regional, there are a lot of idiots in Canada, also a large amount of home ownership but again that's very regional. Here's some more shit hitting the fan, I'm curious to see how far this assessment goes. Canadians like to make noise but they don't tend to actually mobilize. There's got to be a worker underclass that's pissed about all this though. And I don't live in Vancouver so I can't really comment.
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