Ben Nelms / Reuters
"Chinese buyers still appreciate Canada."
Chris Wattie / Reuters
Opposition politicians say the Liberals are ignoring national security in pushing for Chinese investment.
Chris Wattie / Reuters
Trump's election in the U.S. may drive investors to Canada.
Jason Lee / Reuters
Getting a first-time mortgage from a Canadian bank is like getting security clearance to work at NORAD. Income, credit history, source of down payment funds... are all key measurements to qualifying. These rules, of course, only apply to Canadians. Foreign buyers, some have speculated this week, may be receiving preferential treatment.
Shots fired! While our media has been pointing out how Chinese buyers are driving up real estate prices, the Chinese media has been dissecting our economy and government, and warning Chinese buyers of the dangers of owning Canadian real estate.
There's no tax quite as popular as a tax on someone else. But will the people still be on board once the bills come in for collecting the Vancouver vacancy tax, or when the foreign investment tax has to morph to catch the money coming into the country? Or if housing prices are unaffected? Or if housing prices plunge and Canadian homeowners owe more than their home is worth?
Gleb Garanich / Reuters
When Canadians return from celebrating the Canada Day long weekend, they can expect early July to be hot with discussion of potential changes in mortgage regulations and housing policy. Again. Only this time, the changes could have some real teeth to them.
Business sells business best -- not government folks. Ukrainian officials are putting forth a good sales pitch: they sell themselves as pro-western and pro-business in a country which has a 99.7 per cent literacy rate and is just a two-day truck drive from most EU hubs.
Bloomberg via Getty Images
It's only in this market, with it's unfettered influx of foreign bags of cash that this can happen. If our market was not in overdrive, we would not see such a flagrant waste of a perfectly good home and that's the thing that people are most upset about.
Photography by Steve Kelley aka mudpig via Getty Images
A low loonie also makes it harder for Canadian companies to invest abroad.
Volodymyr Kyrylyuk via Getty Images
High price-to-rent and price-to-income ratios don't signal overvaluation, an overabundance of property speculation, or impending doom. Perhaps they actually signal the ascension of Toronto and Vancouver into the highest of global ranks.
If the next Canadian government doesn't take serious pro-active measures to ensure that the cost of sheltering for Canadians becomes affordable, there is a good possibility where, in a not so distant future, foreigners may become major landlords of Canadian homes, dictating their prices and rentals. Effectively, they'll become in position to hold Canadians at ransom in their own country.
For the past few years, Canadians have been taking advantage of our dollar being worth about the same as the U.S. dollar. From buying up real estate to cross-border shopping, being on par with the U.S. dollar has had its advantages. However, in the last few months, economic factors have driven the Canadian dollar down. It may be time to regroup and look at some strategies to make the weakening dollar work for you.
TORONTO — Economists and researchers are applauding Stephen Harper's election campaign promise to collect data on foreign ownership in the real estate market, but they caution that more information is...