Fred Lum/Globe and Mail via CP
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Foreign buyers aren't the major factor driving up house prices, Evan Siddall says.
Reuters Staff / Reuters
Much like last year's Canada Mortgage and Housing Corp.'s condo survey, which showed that investment condos owned by locals in Toronto and Vancouver are a long-term commitment with the objective of generating rental income, this year condominium investors display stable characteristics over time.
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The most commonly repeated explanation for the price surge last year and into 2016 is an increase in foreign buyers, especially Chinese buyers looking to launder their ill-gotten funds. Anecdotal evidence of this happening is at record high, but actual data to support it is severely lacking.
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"Unfortunately, there are no precise data on the foreign-owned share of the oil and gas sector."
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.
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Foreign investment has become a hot-button issue in Vancouver lately, with many residents blaming demand from offshore buyers who are looking for a safe place to stash their money for the city's soaring home prices.
The housing market is so inflated that the international community warns of a bubble ready to burst and locals fret that soaring prices have pushed the dream of home ownership forever out of reach. S...
Over the last year, we've seen the CRTC publish customer-friendly new rules for wireless, set up a special task force to investigate extortionate roaming fees, and start a conversation with Canadians about the Future of Television (and watching TV content online!) Things are starting to change.
Fotografias de Rodolfo Velasco via Getty Images
Foreign investment is a win-win-win-win proposition for countries, consumers, the economy and shareholders. The only losers? Companies who dislike competition -- or people who think Warren Buffett poses an existential threat to Alberta.
Will the government cave under this pressure? We're hoping they won't -- after all, they've made a clear promise to Canadians to lower prices, a promise underlined personally by Prime Minister Harper at his party's convention last fall. We intend to hold the government to its promises. But already there are worrying signs, with Industry Minister Moore seemingly changing his tune.
by Liz Scully via Getty Images
It's no wonder that so many Canadians are speaking out about the state of our broken wireless market. We pay some of the highest prices in the industrialized world for often terrible cell phone service. Thankfully it looks like decision-makers are finally starting to take notice.
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One of the things we at OpenMedia.ca have been calling for is for wireless companies like Ting to be able to reach Canadians just like indie ISPs like Distributel, Acanac, Start or Teksavvy, just to name a few, do for wired Internet. At the moment Canadians are blocked by the Big Three from using Ting, which I think is wrong.
As of yesterday, our hard-won new cell phone customer protection rules go into effect for all new cell phone contracts/sales. The new rules, which were announced by the CRTC (Canada's telecom policy-maker) in June, apply right across Canada, so cell phone users from coast to coast to coast will benefit. These new cell phone customer protection rules will not be enough to rein in Canada's Big Telecom giants, but this is a step in the right direction.
Because Canadians spoke out and demanded change we've forced decision-makers to sit up and take notice. All Canadians will benefit from the federal rules introduced in June, and residents of Ontario, Manitoba, Newfoundland & Labrador, and Nova Scotia can also now rely on strong provincial legislation to protect their customer rights.