I don’t have a SINGLE PENNY (beyond what I need for my routine expenses) in Canadian dollars, and my assets are not kept in Canada, either. Luckily I’m originally from the US, and have all my money invested in US DOLLARS in US index funds (Vanguard).

I would have “almost” said you’re right because of all the artificial “propping up” by the corrupt, criminal politicians who run the country (greenbelt, devious zoning laws by current homeowners, and the list goes on……).

But that reality will not materialize for ONE fundamental reason: Toronto (and Canada in general) does not have anything of substance to offer the world! It is not like a San Francisco (innovation capital of the world), or a New York, LA or Miami!

Can you cite a single asset bubble that resolved itself the way you’ve described?

Ireland was certainly in the top RE bubbles for many years before it collapsed. New Zealand currently has a government that actually cares about its citizens and is bringing in real measures (not like the Liberals’ demand-boosting measures intended to enrich the CCP money launderers at the expense of middle class Canadians) to finally tamp down the bubble. You think Canada is a nicer place to live than Austria? You need to travel a bit.

A major developer said openly bragged about selling 50% of their inventory overseas, to limit supply and sell it back to locals before the transfer. Of course, this would never register as a foreign buyer, since that data is only collected at the time of property registration, and at no point does Canada collect beneficial ownership information, so it has no idea who’s buying, just the location of the nominee director.

But yeah, foreign buyers don’t exist. The carefully collected data that isn’t collected proves this is a myth.

Tell me you didn’t real the article, without telling me you didn’t.

Toronto didn’t make the list until 2017. Vancouver has always been a place for global investment. No one knows or cares where Toronto is, other than you can give a salesperson a $50,000 in Hong Kong to secure a $1,000,000 unit, and they’ll sell it and come back to you with an extra $70-140k in two years, less $10k for commission.

Never say never.