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Mortgage Broker News | 23 Mar 2016, 08:15 AM Agree 0
The Canadian government has promised to dedicate $500,000 for collecting data on foreign ownership, but one leading economist hopes that data won’t be used to discourage foreign buyers
  • John Martin | 23 Mar 2016, 10:27 AM Agree 0
    What more evidence and data does one need. Just look who is buying these properties and where the HUGE amounts of questionable CASH is coming from. We all know. Same old, same old. Nothing will be done at the end of the day. Nothing!!
  • Rudy Risi | 23 Mar 2016, 11:13 AM Agree 0
    What amazes me is that the government is promising to spend $500M of our money on better understanding this. Isn't that CMHC's job? Don't they already post profits? Shouldn't this be their responsibility already????
  • Rom | 23 Mar 2016, 11:29 AM Agree 0
    I agree with John. We also need to control the situation of creating possible ghost town areas in Vancouver and Toronto. We have to make sure that foreign owned properties are tenanted or owner occupied.
  • Amy kinvig | 23 Mar 2016, 11:36 AM Agree 0
    I disagree with our DLC economist regarding the foreign buyers, yes are the pinnings but they have created a market that is unattainable for Canadians who live and work here, who contribute to our economy. The foreign buyers are all cash offers and do not live here, do not shop here or get mortgages here, they contribute in no way shape or form. Something needs to be done to curb this so people living here can buy homes again. For the first time in 15 years of being in this industry, I believe A bubble has been created in Vancouver due to Foreign buyers. I'm not saying go as extreme as Australia where they have banned them outright but, make it mandatory for them to live here 6 months of the year and confirm the cash funds so we aren't money laundering. And being part of illegal activity from foreign countries. Unfortunately our premier is in the business of flipping homes so, she won't want this to be curbed in anyway. hopefully something can be done quickly as I have so many families that can't get into or back into the market because they are competing with all cash offers from foreign buyers and not even inspections are being done on the homes.
  • The Wealthy Homeowner | 23 Mar 2016, 04:56 PM Agree 0
    Evidence based study explains how Economic theories like Trickle Down Home Prices are a Myth.
    Do your remember when smoking was safe, white bread was the base of Canada's food pyramid or better yet Trickle Down Economics would improve the less fortunate!!
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