Real Estate

‘It Was Pandering to Xenophobia’: Liberals Reject Own Foreign Buyer Ban

  • Last Updated:
  • Mar 8th, 2022 8:43 am
35 replies
Sr. Member
Dec 25, 2019
911 posts
1266 upvotes
lets ban foreign buyers , lets ban mom and pop investors , lets ban HELOC , lets ban all investors .lets ban this lets ban that , no one would built new units as a result , existing inventory prices would increase like 70% in a year, nothing would rent less than 5k in GTA , basement rooms for 3k . there wont be anything less than 1m in GTA to buy , even Jane and Finch 1 bedroom infested apartments would become 1m in couple of years , all of you just wanna buy something with ur minimum wage income just selfish entitled bunch who have no idea about economy . please stop with these posts ...go to reddit , suits u better there lol
Member
Mar 3, 2021
326 posts
194 upvotes
Enough with the China hate my dear, China is not a country built on immigration of course they will not allow your average blue collar foreigners or refugees to move there let along letting foreigners to take over their RE.
Deal Addict
Jun 18, 2020
2044 posts
2405 upvotes
Would China allow it? Who cares?

The only utter BS here is using China as a benchmark for how to run policy. Me thinks we should set our policy goals higher.
Deal Expert
Feb 29, 2008
17418 posts
14844 upvotes
Tarrana & The Ri…
GTA12345 wrote: Would China allow it? Who cares?

The only utter BS here is using China as a benchmark for how to run policy. Me thinks we should set our policy goals higher.
This.
Deal Addict
User avatar
Jan 14, 2009
3812 posts
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Vancouver, BC
GTA12345 wrote: Would China allow it? Who cares?

The only utter BS here is using China as a benchmark for how to run policy. Me thinks we should set our policy goals higher.
Also lol at democratic Canadians saying we should enforce authoritarian CCP capital controls. "moar than 50K is iLlEgAl!"
If you buy vgro for a thousand years Vancouver homes will still be out of reach.
Deal Expert
Feb 29, 2008
17418 posts
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Tarrana & The Ri…
zakarydoks wrote: Also lol at democratic Canadians saying we should enforce authoritarian CCP capital controls. "moar than 50K is iLlEgAl!"
See it all the time. "We should be more like China" What? :facepalm:
Deal Addict
May 22, 2019
1146 posts
582 upvotes
sffpcgtx wrote: What utter BS.....you think China will allow foreigners to take over real estate in their country????

https://storeys.com/pandering-xenophobi ... buyer-bam/
Banning foreign buy is totally not ethical! It creates discrimination.

Queen Elizabeth is also a foreigner, but she owns property in Canada, as well as the royal family of UK own significant amount of properties in Canada.

If you want to ban foreign buyers, please ban the queen and royal family first!
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Deal Addict
May 22, 2019
1146 posts
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zakarydoks wrote: Also lol at democratic Canadians saying we should enforce authoritarian CCP capital controls. "moar than 50K is iLlEgAl!"
My advice to Canadians, if you want to own property, try to buy it don't try to steal them from others.

The motivation behind foreign buyer ban is simply some poor guy want to steal other people's property and hard-earned money.
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Sr. Member
Aug 15, 2018
538 posts
272 upvotes
ilovetoyota wrote: The motivation behind foreign buyer ban is simply some poor guy want to steal other people's property and hard-earned money.
That's rough. I mean people are just asking to be able to live in their own country. As a country we should find a middle ground between making money money and social peace.

Singapore for instance has what I find to be a great system. Social housing is only accessible to locals and permanent residents. Condos can be bought by foreigners. So locals have a chance to get housing. I lived there for years, and thought it works very well.
Deal Addict
May 22, 2019
1146 posts
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mattnew wrote: That's rough. I mean people are just asking to be able to live in their own country. As a country we should find a middle ground between making money money and social peace.

Singapore for instance has what I find to be a great system. Social housing is only accessible to locals and permanent residents. Condos can be bought by foreigners. So locals have a chance to get housing. I lived there for years, and thought it works very well.
Local people can go anywhere in Canada, foreigners did not block them to go anywhere. Local canadians can get houses in anywhere outside GTA or GVA. We don't have restrictions on that.

Singapore has a great system, I hope Canada can adopt the system from Singapore. Maybe foriegners should be banned from buying condos, but allow them to buy deteched.

Singapore's system is good because they encourage rich foreigners to come to the country, while our Canada seems only like poor ones to come. Singapore gives equal right to forigners and local people, but unfortunately Canada gives less right to foreigners. We need more rich foriegners to come and become our bosses, and bring better culture from outside of the country to competely alter the life style of Canada.
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Sr. Member
Aug 15, 2018
538 posts
272 upvotes
ilovetoyota wrote: Singapore gives equal right to forigners and local people
Actually they don't, foreigners are limited in what type of properties they can buy. They can't buy the properties that are for locals. In my opinion it's a great balance between foreign investment and allowing locals to access property ownership (although still difficult).
Deal Addict
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Jan 14, 2009
3812 posts
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Vancouver, BC
mattnew wrote: That's rough. I mean people are just asking to be able to live in their own country. As a country we should find a middle ground between making money money and social peace.

Singapore for instance has what I find to be a great system. Social housing is only accessible to locals and permanent residents. Condos can be bought by foreigners. So locals have a chance to get housing. I lived there for years, and thought it works very well.
Is life better overall in Singapore though? It's easy to see what they have, social housing, but miss what they give up or pay for for it. I'm not sure they have the right "middle ground".
If you buy vgro for a thousand years Vancouver homes will still be out of reach.
Sr. Member
Aug 15, 2018
538 posts
272 upvotes
zakarydoks wrote: Is life better overall in Singapore though? It's easy to see what they have, social housing, but miss what they give up or pay for for it. I'm not sure they have the right "middle ground".
Not saying life there is perfect. My point was that they attract foreign investments while protecting locals, and I find this smart.
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Jan 14, 2009
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mattnew wrote: Not saying life there is perfect. My point was that they attract foreign investments while protecting locals, and I find this smart.
My point is that public housing in Singapore is the result of their political-economic system. Canada does not have or want their political economic system so we cannot reproduce their housing here.
If you buy vgro for a thousand years Vancouver homes will still be out of reach.
Sr. Member
Aug 15, 2018
538 posts
272 upvotes
zakarydoks wrote: so we cannot reproduce their housing here.
Genuinely asking - why do you think social housing can't be implemented in Canada?
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Jan 14, 2009
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mattnew wrote: Genuinely asking - why do you think social housing can't be implemented in Canada?
We are very, very inefficient. Our productivity is also mediocre but that might be related to our inefficiency.
If you buy vgro for a thousand years Vancouver homes will still be out of reach.
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Sep 14, 2006
9281 posts
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ilovetoyota wrote: Banning foreign buy is totally not ethical! It creates discrimination.

Queen Elizabeth is also a foreigner, but she owns property in Canada, as well as the royal family of UK own significant amount of properties in Canada.

If you want to ban foreign buyers, please ban the queen and royal family first!
Something tells me if the queen wanted to be a Canadian, she'd have a Canadian passport in her hands within minutes. LOL
TEAM CANADA!!!!!!!!!!!

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