Foreign buyers ban won’t fix housing market – could make it worse, experts say | Globalnews.ca

Could the prohibition actually make the housing market worse?

On top of that, the housing that does get built will be more expensive, Pavlov argues, to reflect the risk that investors take when building homes in Canada. Pavlov says that this phenomenon has already played out in B.C. with the implementation of the foreign buyers tax and the vacancy and speculation tax that penalized Vancouver homeowners for not occupying their homes, or for renting them out.

I’d say multiple home ownership by Canadian citizens is a bigger problem.

Is this another article written by a “specialist” who was paid by someone?! It is common knowledge that foreign investors (organize crime) drive house prices high & made it almost impossible for locals to buy in. Ask any Vancouverite/TO who makes $60000/year if he can buy 1.3M🏠

I’m curious about the impact of AirBnB/VRBO owners and homes left unoccupied as a result. I would also be curious about any correlation of that with foreign ownership.

What experts name them and then show them all Canadians who still live at home in their 30s. Lower the cost of borrowing and lower the cost of the homes for first time buyers. Millions of Canadians need this for their first home only. Not hard to figure out.

The 'financialization' of housing - much of it driven by foreign/absentee ownership - is deeply implicated in lack of affordable housing. Global, how about interviewing sources other than absentee/foreign owners in it for profits?

Poll: Is the Canadian Government corrupt? CDNpoli CDNmedia ⚠️ HOUSING MARKET FRAUD

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Experts say foreign-buyer ban won't bite B.C. real estate pricesCanada\u0027s ban on foreign buyers took effect Jan. 1, experts don\u0027t expect it to cool prices more than higher interest rates already have. Of course they do 😂 Too many exemptions,they pulled the teeth at the last minute, the old bait and switch. Finally at 43 my hourly will be going from $13/hr from my last job in 2011 to $37.50/hr in the summer. Even working 50 - 60 hour weeks I won't be able to buy into housing for years.
Source: VancouverSun - 🏆 49. / 61 Read more »