Comments on: Canadian Real Estate Bought By Investors Doubled, Odds of A Correction Rise: BoC

By: RW

RW — Fri, 26 Nov 2021 20:06:18 +0000

No one doesn’t believe Stat Can, it’s people don’t understand the data. It’s the same thing with COVID data tbh.

A marginal buyer sets the price and foreign investors pay significantly more. That is undeniable fact from Stat Can. If you’re saying investors are driving the market and foreign investors a paying more than, you’re saying foreign investors are driving the market.

Whether you think that’s a good thing or bad thing is up for debate. Most people are quite happy with foreign investment as a sign of attractiveness. Lobby groups BOAST of the contribution they make to home prices.

The “expert” who said this wasn’t the case didn’t disclose he sold his home to foreign money lobbyists. Not because he was lying, but HE DIDN’T KNOW. I don’t think you understand the irony there.

https://www.scmp.com/news/world/united-states-canada/article/2181447/professor-says-vancouvers-china-money-fears-mirror

By: Eff Jayelle

Eff Jayelle — Fri, 26 Nov 2021 04:31:05 +0000

In reply to Chris P.. Stop with the foreign boogeyman. Stats Canada and CMHC as well as housing registries show across Canada not true and in concentrated pockets still less than 11%. Flippers and now multiple properties owners were mostly locals and FOMO gray markets etc doubling down but biggest factor was dwindling supply and younger pop reached house buying agr while baby boomers are refusing to sell. Gary Mason addressed this a while ago. Hot centre’s like Vancouver Toronto and Montreal n as y have higher pockets of all types of non residential Canadians but even provinces with small towns are no foreigners are all experiencing same supply and price issues. We believe Stats Can on Covid so why not on believe them on small numbers of foreign investors main cause of driving home prices but rather speculation and supply issues. Even the ban in New zeal and did little to continually spiking house prices there

By: SH

SH — Fri, 26 Nov 2021 01:00:14 +0000

In reply to Chris P.. Why do you say it would have collapsed already if it were all lunkhead Canadian Chads and Tyrones speculating? The government bailed out speculators last year when it forced the banks to give blanket mortgage deferrals to everyone who asked, including multi unit landlords.

By: Heather

Heather — Wed, 24 Nov 2021 23:24:34 +0000

I have trust issues in regards to bankers. Better Dwelling writers, Better Dwelling commenters, and Dad, decades ago – “Don’t trust the bankers!”

By: Chris P.

Chris P. — Wed, 24 Nov 2021 15:13:36 +0000

I am afraid this is another smoke screen.
If the “investors” were some shifty house flippers or Canadian institutions then
the collapse would already happened. But if hey are foreign buyers who try to
stash their money in a safe country then we may have to wait quite a bit longer.
And regardless who is in power, the Canadian government will do everything to
prolong it.
If your grandma deposits 10K into her account, the CRA will contact her about
the origin of the money. But if a gambler from China request $200 000 delivered
in a big duffel bag in $20 bills, our government shows no similar vigilance as
to the origin of that bundle.
And if one can, legally, buy a 2 million dollar house with cash from a suitcase and
register it under a numbered company so nobody knows who owns it, you know that
there is more to the housing prices than just speculation.
So don’t hold you breath if you want to buy a house.
P.S. I recommend the book “Willful Blindness” for the price collapse optimists

By: V

Wed, 24 Nov 2021 12:01:46 +0000

Not possible. They are definitely the biggest MORONS!
100%

By: Whiskey Foxtrot

Whiskey Foxtrot — Wed, 24 Nov 2021 01:40:08 +0000

Is it possible to get bigger morons to run the Bank of Canada? They seem to be 3 years behind on where they should be considering what’s happening.

By: Yussef

Yussef — Wed, 24 Nov 2021 01:37:49 +0000

Pre-2008 home prices didn’t crash and take the whole financial system with it.

The two have been packaged to convince the public all of society loses if markets become rational. Not the case.