So, would you buy today? Do you expect further Chinese money to make its way to Vancouver and Toronto? Are you confident that China won't succeed with controlling capital outflows from China? Are you positive that the local population and BC government will not further tighten laws to limit foreign purchases as soon as demand picks up again?
America's Middle-Class Is Losing Ground to Canada's
- Thread starter GRULSTMRNN
- Start date
The Toronto market isn't dependent on "Chinese money".
Sorry, I meant HK money ;-) of course it was and is. What makes you think otherwise?
"Foreign Investments – Foreign investors tend to focus on the high-end real estate market. They can afford to pay big money and this in turn drives up housing costs all across the city. But they have also been labelled ‘property scalpers’ buying up properties and then flipping them. Instead of local costs reflecting local salaries, locals are left to compete with massive wealth from outside of their country. Vancouver has proposed a specific tax for foreign real estate buyers, which seems like a good route for Toronto to take as well and the Liberal government in Ontario is planning to implement it. It’s a way to protect it’s own citizens and making sure they are able to afford to live in their cities."
This girl posts a link, the first actual evidence of anything in 5 pages of her drivel, andddd...it's from 2017.
I can see why she thinks Canadian RE is "overvalued". I stand by my call that @GRULSTMRNN is retarded on Canadian RE.
I did not mean to imply that Toronto real estate is entirely driven by Chinese money. If I implied that or said it outright then I apologize. I think a second large driver is the arrival of a lot of tech talent in the city. Why was Toronto really cheap about 1-2 decades ago. Toronto real estate did not stand out in any meaningful way. Yet as soon as the Chinese started to invade Canada, New Zealand, and Australia then urban real estate started to pop and priced out many locals. That Chinese money was a mix of pure foreign investments for diversification purposes, Chinese college kids whose parents thought that their cute little Bo or BingBing needs their own dwelling place during their studies, and escape artists who looked to illegally move otns of cash out of China and hopefully the entire clan as well.
And then the tech boom emerged and university programs especially at UToronto started to support incubation and entrepreneur schemes,many startups popped up all over the city, the US made it harder for foreign tech workers to stay in the US so those workers made their way to Toronto.
Aside those two big issues to my knowledge nothing major occurred in Toronto in particular that explains the way out of norm rise in real estate over the past 15 years. Please add your factors if you find I missed any.
And then the tech boom emerged and university programs especially at UToronto started to support incubation and entrepreneur schemes,many startups popped up all over the city, the US made it harder for foreign tech workers to stay in the US so those workers made their way to Toronto.
Aside those two big issues to my knowledge nothing major occurred in Toronto in particular that explains the way out of norm rise in real estate over the past 15 years. Please add your factors if you find I missed any.
They have male clubs as well.
If you are going to bullshit, at least don't BS in the same thread. LOL. Can't even keep the story straight! Not that she is. @GRULSTMRNN
Upon reading my posts again I don't think I need to apologize. I clearly mentioned Chinese AND techies (technology/IT people) pretty early on as causes. Hence I never singled out Chinese as the only culprit