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  • Sep 15th, 2014 4:44 pm
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Deal Addict
User avatar
Oct 17, 2008
2277 posts
52 upvotes
Toronto
I propose a moratorium on all foreign "investment" in the residential real estate markets.

It does nothing but artificially inflate the prices of real estate in this country. Instead of parking their money in property speculation, these "investors" would be forced to partake instead in actual business or Canadian-issued bonds.

The billions of dollars pouring in mostly from sources of crime, corruption and unsavory business in China and elsewhere do not serve the Canadian economy save for a handful of developers re-selling plywood castles for millions of dollars.
Deal Guru
User avatar
Mar 1, 2004
12862 posts
1466 upvotes
Pickering
I already said to just charge the people with ill gotten cash more tax. They will pay it and we can invest the rest in the country. Now everybody is happy...
[OP]
Sr. Member
Oct 18, 2010
707 posts
108 upvotes
BCAB
Only if we can prove that... this is speculation on our end as well. but seems like there are ppl who are willign to testify though... but it is very difficul to get factual data and records to prove this.
koalorka wrote:
Sep 11th, 2014 12:54 pm
I propose a moratorium on all foreign "investment" in the residential real estate markets.

It does nothing but artificially inflate the prices of real estate in this country. Instead of parking their money in property speculation, these "investors" would be forced to partake instead in actual business or Canadian-issued bonds.

The billions of dollars pouring in mostly from sources of crime, corruption and unsavory business in China and elsewhere do not serve the Canadian economy save for a handful of developers re-selling plywood castles for millions of dollars.
Deal Addict
User avatar
Sep 16, 2012
3065 posts
316 upvotes
Mississauga
There choosing to live in Canada because of the many benefits that this country has to offer. If they want to spend there money on buying houses that cost over a million dollars, who am i to judge, there money so its there life choices on how they decide to spend there hard earned money.
Deal Guru
User avatar
Mar 1, 2004
12862 posts
1466 upvotes
Pickering
FreddyDriver wrote:
Sep 11th, 2014 12:53 pm
Don't you guys ever think about moving to Mexico?

http://www.point2homes.com/MX/Home-For- ... 96343.html

http://www.point2homes.com/MX/Home-For- ... edGeoId=33
There are enough places in the USA that are cheap and nice, so you don't have to go that far south.

834 Long Prairie Dr
$180,000 | 4 Bed 3 Bath

http://www.realtor.com/search/listingde ... 8239944940
Banned
Mar 4, 2010
209 posts
15 upvotes
dighn wrote:
Sep 11th, 2014 12:24 pm
Why the hell are you comparing owning a house to owning luxury products? Until very recently owning a house was never some kind of unreasonable luxury for the common people. Rather than a "sense of entitlement" it's only an expectation that that way of life would continue. Yeah the world does change, but one certainly hopes it's for the better rather than for the worse.
Because a low/med density product in the urbanized part of GTA is a luxury product.. again, you make sound as if ALL homes are out of reach when it's just one sector. This absurd sense of entitlement to own a home is out of hand.

why would you expect it to continue? gas was 47cents when I was younger.. it's 1.29 now.

well ...everything comes to an end.... home ownership for people without financial resources is one of them. Besides you can buy further away from the city or buy a condo/stacked TH... home ownership is still very much attainable, just not the 40ft x 120 ft lots by the ones without financial resources.

our population is increasing, doesn't take a smart person to know it's not possible to continue having cheap 40ft x 100 ft lots for everybody, especially the ones with no financial resources..we run out of land fast..at least close to the city. Why don't you go up to Barrie, Bradford, Bolton, Keswick, Sutton if you want a low density product that a lower wage person could afford?
Banned
Mar 4, 2010
209 posts
15 upvotes
koalorka wrote:
Sep 11th, 2014 12:54 pm
I propose a moratorium on all foreign "investment" in the residential real estate markets.

It does nothing but artificially inflate the prices of real estate in this country. Instead of parking their money in property speculation, these "investors" would be forced to partake instead in actual business or Canadian-issued bonds.

The billions of dollars pouring in mostly from sources of crime, corruption and unsavory business in China and elsewhere do not serve the Canadian economy save for a handful of developers re-selling plywood castles for millions of dollars.
you want to ban foreign investment? we would be worst off than greece overnight
Banned
May 3, 2008
302 posts
36 upvotes
toronto
TSDH wrote:
Sep 11th, 2014 1:32 pm
No. High political/police corruption and drug cartel violence. Totally not safe.
Everywhere in Mexico can't be like that. Seems a lot of Americans live there. It's not possible to live a completely safe life so why try?
Deal Addict
Jul 9, 2004
1572 posts
168 upvotes
Delta
gilbaman wrote:
Sep 11th, 2014 2:05 pm
Because a low/med density product in the urbanized part of GTA is a luxury product.. again, you make sound as if ALL homes are out of reach when it's just one sector. This absurd sense of entitlement to own a home is out of hand.

why would you expect it to continue? gas was 47cents when I was younger.. it's 1.29 now.

well ...everything comes to an end.... home ownership for people without financial resources is one of them. Besides you can buy further away from the city or buy a condo/stacked TH... home ownership is still very much attainable, just not the 40ft x 120 ft lots by the ones without financial resources.

our population is increasing, doesn't take a smart person to know it's not possible to continue having cheap 40ft x 100 ft lots for everybody, especially the ones with no financial resources..we run out of land fast..at least close to the city. Why don't you go up to Barrie, Bradford, Bolton, Keswick, Sutton if you want a low density product that a lower wage person could afford?
All prices increase of course, but the devil is in the details. Take a look at metro vancouver for example (where I am), about 1.9 mil people in 2001, 2.3 mil now. You take that, and add in an annual inflation of 4%. You get maybe 70% increase. Very naive calculation of course, but still illustrative. Do those factors explain the almost 3x increase in RE prices during that time? Not really. There are other forces at play here, like low interest rates, changes in demographic (a shift in attitude toward home ownership), foreign investment (perhaps) etc. All I'm saying is that it's completely reasonable to think that current prices are unreasonably high and that the current generation is kind of getting screwed in this regard. Of course, it's just the market at play and it is what it is. Personally I earn pretty good money, and have sizable savings and investments. I feel pretty well off, until I look at the housing prices around here. I still a lot of people "affording" these houses by cutting expenses and renting out rooms and I just shake my head.
Deal Fanatic
Dec 24, 2005
5307 posts
939 upvotes
dighn wrote:
Sep 11th, 2014 12:24 pm
Why the hell are you comparing owning a house to owning luxury products? Until very recently owning a house was never some kind of unreasonable luxury for the common people. Rather than a "sense of entitlement" it's only an expectation that that way of life would continue. Yeah the world does change, but one certainly hopes it's for the better rather than for the worse.
Houses are not expensive.

It's just that the sheep on this board think it's normal to have your dream house before 35 in the right neighbourhood for cheap.

20 years ago only people with deep pockets could buy those homes -- it's no different today.

The bigger issue is most people on this board are bitter.
Deal Addict
Jan 11, 2004
1277 posts
161 upvotes
ssainani wrote:
Sep 11th, 2014 4:09 pm
Houses are not expensive.

It's just that the sheep on this board think it's normal to have your dream house before 35 in the right neighbourhood for cheap.

20 years ago only people with deep pockets could buy those homes -- it's no different today.

The bigger issue is most people on this board are bitter.
I would say it's a combination of both. Houses are more expensive today then they have been historically. But first time homebuyers are also much more demanding then they have been in the past. They expect HGTV effect in their first home and in the nicest of neighbourhoods in the city center.
Penalty Box
Apr 16, 2012
3565 posts
683 upvotes
Greely
Yes Real Estate is pretty in line with everything.

I don't know how it is out of wack.

Food prices have increased 2x 3x over the last 10 years

Electronics have increased...Iphone 6s priced at $900 now?

Gas prices have doubled

Raw material prices have increased..

etc

Image
Deal Guru
User avatar
Mar 14, 2005
12332 posts
1852 upvotes
City of Vancouver
OP should move to Detroit! There's even a successful hockey team there!
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