I'm trying to understand this increasingly bizarre situation, and it's hard to do that without noticing the Chinese interest in Kanata Lakes. I don't particularly care that one ethnic group or another is buying in the neighborhood. And I agree that if people think a neighborhood is overpriced they will take their money elsewhere - that's what I was saying before. Why buy a 600k townhouse in Kanata Lakes when you can buy a single nearby for cheaper?Zero Hope wrote: ↑ To play devils advocate, why does it matter to you that a certain ethnic group likes to purchase in a specific pocket of a suburb? Is it disturbing the “fair price” of which you judge properties in the area “should” be worth? If people think that area is overpriced, then they can take their money elsewhere and buy in other kanata suburbs or other suburbs in Ottawa. Kanata Lakes has always had a premium as far as I remember. Back when my parents bought their first house in 1999, it was more expensive than Morgan’s Grant and Bridlewood and back then there were barely any asians to influence the market.
I have a problem with what you seem to agree is an endless pit of money that happens to be coming from China that has an unending thirst for the area among other areas in the city, and who knows how high it can go? What's stopping townhouses from hitting 900k by the end of the year? I doubt that money will dry up. I don't think that will be good for the city and I care about the city. I don't want to become the next Vancouver. Mid-unit towns in Kanata Lakes were ~350k as recently as 2.5 years ago.