The Chinese have been #1 investors for Canadian real estate … Nothing new.
Instead of slowing down after the infamous Vancouver Foreign Buyer Tax, they come in greater number as if apocalypse is going to land in the Middle Kingdom soon.
The momentum continues, home prices keep going north, millenials remain in the same doldrum as far as housing affordability is concerned.
The more the merrier?
Inquiries from China for property in several big Canadian markets spiked in the months after Vancouver introduced its tax for foreign buyers, according to a report based on data from a top Chinese foreign property website.
The report, released Tuesday by Sotheby’s International Realty Canada in conjunction with Juwai.com, said Chinese inquiries for listings in the Vancouver market slumped by 81 per cent year over year in July 2016, the month the 15 per cent tax was announced.
Continue reading “Chinese Insatiable Appetite For Canadian Real Estate Continues”
I have always expected this will be the direction Canada is heading – The government will keep interest low and keep printing money.
Is there a problem here?
Continue reading “Low Loonies are coming back to haunt Canadians”
While folk are debating solutions for our problems, blaming foreign money and our immigration programs as the main culprits such as this article – Toronto, don’t let Vancouver’s housing crisis become yours. Whereby Josh Gordon, an assistant professor at the Simon Fraser University School of Public Policy writes about (and invited a lot of heated arguments): –
- Concern about foreign capital is xenophobic or racist
- Rising prices are all about low interest rates
- There is no data
- The problem is all about supply
- We want foreign “investment”
Canada created history again.
According to HuffPost,
Bank of America Merrill Lynch noted just months ago that interest rates are the lowest they’ve been in 5,000 years.
Continue reading “Canadian interest rates are the lowest in 5,000 years”
For the first time ever, the Canada Olympic House, the Rio home base for Canadian Olympians and their friends and family, was designed by Canadians. Ontario natives George Yabu and Glenn Pushelberg, who are best known for their luxury hotel, residential, and commercial interiors like the Four Seasons Toronto and Park Hyatt New York, simply asked the Canadian Olympic Committee: “What can we do for Canadian athletes to showcase their country?” Yabu recalled.
The deconstructed Canadian flag is made up of hundreds of hanging ribbons. Continue reading “What’s New – Rio Olympic House & Self-Healing House”