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Canada bans foreigners from buying homes amid housing crisis

ezzra

By ezzra
in US & Canada Topics and Events

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stoner Star Member

stoner

Posted
Posted

sold my house at home this year in march. 125k over asking. was insane bidding war.

 

it won't do much to stop it. 400 to 500k immigrants every year to a country of about 40 million. not sustainable in regards to the housing situation. 

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swerve Advanced Member

swerve

Posted
Posted

This is a good idea. Should include recreational property too. They should also stop giving out passports so easily.

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Celsius Platinum Member

Celsius

Posted
Posted
6 minutes ago, swerve said:

This is a good idea. Should include recreational property too. They should also stop giving out passports so easily.

 

Why would they? Canada is in the business of importing immigrants? 500,000 are coming in the next 2 years, probably more. 

 

I am closely following all cases as my wife applied for a Permanent Residency. You should see how fast students and Indians are getting approved. In like 3-6 months after they apply. Meanwhile we are still waiting after 2 years. Canada obviously does not need old people, which is fine. My wife does not want to move anyway anymore after watching CBC for the past year. 

 

I am an immigrant myself and it always sickened me the attitude of certain foreigners here as is Thailand is the only country that's after the money. Canada is much, much worse when it comes to extracting your hard earned cash. But at least in the past they pretended not to be xenophobic. This new law surely proves otherwise considering that it is 99% of Canadians and not those perky foreigners who overbid on homes and are real estate crazy.

 

 

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Salerno Platinum Member

Salerno

Posted
Posted
5 minutes ago, Celsius said:

Why would they? Canada is in the business of importing immigrants? 500,000 are coming in the next 2 years, probably more. 

 

It's got nothing to do with immigrants - it's to stop "investors". Many countries are finding their citizens being priced out of the market. Although a lot of it is due to "natural" inflation a lot is also due to cashed up individuals buying up property in foreign countries, a percentage involved in money laundering.

Celsius Platinum Member

Celsius

Posted
Posted
1 minute ago, Salerno said:

It's got nothing to do with immigrants - it's to stop "investors". Many countries are finding their citizens being priced out of the market. Although a lot of it is due to "natural" inflation a lot is also due to cashed up individuals buying up property in foreign countries, a percentage involved in money laundering.

 

What "investors"? A simple google search confirms that only 2.6% are foreign home owners. 

 

I am sure a lot more foreigners own property in Bangkok.

Gottfrid Star Member

Gottfrid

Posted
Posted
20 minutes ago, swerve said:

This is a good idea. Should include recreational property too. They should also stop giving out passports so easily.

Sure it is! When foreigners comes to Thailand, they get angry they can not buy and own houses. But when home country does same, then it´s just all good.

Salerno Platinum Member

Salerno

Posted
Posted
4 minutes ago, Celsius said:

What "investors"? A simple google search confirms that only 2.6% are foreign home owners. 

 

Your point being?

 

Perhaps actually reading the article instead of arching up over the dog whistle headline would allay your misgivings.

 

"Several exceptions in the act allow individuals such as refugees and permanent residents who are not citizens to buy homes."

 

As I said, nothing to do with immigrants.

stoner Star Member

stoner

Posted
Posted
31 minutes ago, Celsius said:

 

Why would they? Canada is in the business of importing immigrants? 500,000 are coming in the next 2 years, probably more. 

 

I am closely following all cases as my wife applied for a Permanent Residency. You should see how fast students and Indians are getting approved. In like 3-6 months after they apply. Meanwhile we are still waiting after 2 years. Canada obviously does not need old people, which is fine. My wife does not want to move anyway anymore after watching CBC for the past year. 

 

I am an immigrant myself and it always sickened me the attitude of certain foreigners here as is Thailand is the only country that's after the money. Canada is much, much worse when it comes to extracting your hard earned cash. But at least in the past they pretended not to be xenophobic. This new law surely proves otherwise considering that it is 99% of Canadians and not those perky foreigners who overbid on homes and are real estate crazy.

 

 

took my wife over 5 years to get citizenship. 

Celsius Platinum Member

Celsius

Posted
Posted
16 minutes ago, stoner said:

took my wife over 5 years to get citizenship. 

This is for PR. The thing you apply for before you get citizenship. 

BananaStrong Silver Member

BananaStrong

Posted
Posted

Canada has no land!!!!  Too small!!!   

 

Oh wait, it's one of the biggest countries in the world.    

 

Oh wait, everyone wants to live right next to USA because USA is a real country and not negative 900000 C all day, every day.  lol

 

Canada.   

 

All the mexican cartels need to go to Canada and then foreigners should renovate Mexico!!!!!!!  

  • Haha 1
stoner Star Member

stoner

Posted
Posted
1 minute ago, Celsius said:

Yes. really. Why are you so confused? Are you stoned?

really ? you should just let it go. was too big for you. 

Celsius Platinum Member

Celsius

Posted
Posted
55 minutes ago, JonnyF said:

A good move by Canada. Hopefully other countries do the same. 

 

Yes. Extremely good move just like the rent control in Ontario. It made rent unaffordable for 90% of the population because of the lack of supply and landlords jacking up prices on empty units.

BananaStrong Silver Member

BananaStrong

Posted
Posted
56 minutes ago, VocalNeal said:

Like Montana, et al????

Montana is beautiful, but I'm not saying anyone wants to live in that freezing place during the winter.  

 

HOWEVER; my point stands!!!!!

 

On average across the year, no, Manitoba, Canada is not hotter than Montana, United States . Manitoba, Canada has an average temperature of 3°C/37°F and Montana, United States has an average temperature of 7°C/45°F.

VocalNeal Star Member

VocalNeal

Posted
Posted
2 minutes ago, BananaStrong said:

HOWEVER; my point stands!!!!!

???? What that all Canadians want to live in the US or that the US is a real (sic) country. 

Neither statement hold water????

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