Fresh wave of foreign buyers

Fresh wave of foreign buyers

Postby Phil Yuin » Jul 27th, 2019, 10:13 am

....and this is more proof that Horgan doesn't have a clue.
Be careful when you set a trap, you almost never catch your target. You catch something completely unintended.

https://www.castanet.net/news/Business/ ... ign-buyers
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Re: Fresh wave of foreign buyers

Postby OKkayak » Jul 27th, 2019, 10:17 am

You know what works real good? Other countries use the system.

Don't allow non-residents to buy residential property let alone rent it out.
“Our species can only survive if we have obstacles to overcome. You remove those obstacles. Without them to strengthen us, we will weaken and die.”

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Re: Fresh wave of foreign buyers

Postby Phil Yuin » Jul 27th, 2019, 10:44 am

OKkayak wrote:You know what works real good? Other countries use the system.

Don't allow non-residents to buy residential property let alone rent it out.


Describe "works".
This will be interesting.
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Re: Fresh wave of foreign buyers

Postby the truth » Jul 27th, 2019, 1:15 pm

OKkayak wrote:You know what works real good? Other countries use the system.

Don't allow non-residents to buy residential property let alone rent it out.


it could be that simple if they had the will
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Re: Fresh wave of foreign buyers

Postby Mike Br. » Jul 27th, 2019, 1:41 pm

OKkayak wrote:Don't allow non-residents to buy residential property let alone rent it out.


What really screwed up Vancouver’s RE market was not foreign ownership, but money laundering. They (our governments) let it slide for many years, because all of them, from municipal to provincial and federal governments, were taking their share.
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Re: Fresh wave of foreign buyers

Postby AlienSoldier » Jul 29th, 2019, 6:28 am

We are allowed to buy in foreign lands such as the US and also in Hong Kong, so why would we reduce their choice to buy here?

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Re: Fresh wave of foreign buyers

Postby common_sense_guy » Jul 29th, 2019, 8:52 am

OKkayak wrote:You know what works real good? Other countries use the system.

Don't allow non-residents to buy residential property let alone rent it out.

I completely agree. Have been saying that forever. I don't know a single Canadian resident that thinks it's a good idea to allow foreigners to buy our land. I don't understand why the politicians don't see that and do what we wish. As a result most Canadians children will never be able to buy their own house because of inflated values
If you can't handle the truth, plug your ears. Don't ask me to stop speaking. This is a no snowflake Zone

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Re: Fresh wave of foreign buyers

Postby Sparki55 » Jul 29th, 2019, 10:38 am

common_sense_guy wrote:I completely agree. Have been saying that forever. I don't know a single Canadian resident that thinks it's a good idea to allow foreigners to buy our land. I don't understand why the politicians don't see that and do what we wish. As a result most Canadians children will never be able to buy their own house because of inflated values


Because it's lucrative. Look at all the movie star homes around Kelowna. Huge millionaire mansions that don't qualify for primary residence tax deductions. Barely used so no burden on infrastructure. Normally they employ a security company, lawn maintainence, etc. Now with the foreign buyers tax and spec tax the government is raking even more cash in. Those taxes weren't introduced to help Canadians, they were introduced to slow it down a bit and keep the good times going. If foreign investment ever gets to low, all the new regs will be repealed.

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Re: Fresh wave of foreign buyers

Postby Mike Br. » Jul 29th, 2019, 10:41 am

common_sense_guy wrote:I don't know a single Canadian resident that thinks it's a good idea to allow foreigners to buy our land.

As if Canada has a shortage of land.
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Re: Fresh wave of foreign buyers

Postby Phil Yuin » Jul 29th, 2019, 10:59 am

common_sense_guy wrote:
OKkayak wrote:You know what works real good? Other countries use the system.

Don't allow non-residents to buy residential property let alone rent it out.

I completely agree. Have been saying that forever. I don't know a single Canadian resident that thinks it's a good idea to allow foreigners to buy our land. I don't understand why the politicians don't see that and do what we wish. As a result most Canadians children will never be able to buy their own house because of inflated values


You sure don't speak for me or anyone I know.
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Re: Fresh wave of foreign buyers

Postby OKkayak » Jul 29th, 2019, 8:27 pm

Phil Yuin wrote:Describe "works".
This will be interesting.

"Are you a resident of this country?"
"No."
"Sorry, we cannot sell you residential property at this time."

Simple.
Phil Yuin wrote:You sure don't speak for me or anyone I know.

Speaks for me and everyone I know.
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Re: Fresh wave of foreign buyers

Postby AlienSoldier » Jul 30th, 2019, 6:11 am

I have cousins who own property in the states and I have property in various other countries in the world. Since I am allowed to buy there, they should be allowed to buy here.

I also bought a house in a Toronto and I'm a millennial. It's doable if you put the effort in and don't believe you deserve a 3000 sq.ft house to start with.

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Re: Fresh wave of foreign buyers

Postby LordEd » Jul 30th, 2019, 9:13 am

OKkayak wrote:You know what works real good? Other countries use the system.

Don't allow non-residents to buy residential property let alone rent it out.
Which country are you looking to as "works really good"?

https://internationalliving.com/global- ... -ownershi/

Not too many on that list that straight-out prevent ownership.
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Re: Fresh wave of foreign buyers

Postby Phil Yuin » Jul 31st, 2019, 5:43 pm

OKkayak wrote:
Phil Yuin wrote:Describe "works".
This will be interesting.

"Are you a resident of this country?"
"No."
"Sorry, we cannot sell you residential property at this time."

Simple.
Phil Yuin wrote:You sure don't speak for me or anyone I know.

Speaks for me and everyone I know.

maybe if you say it again it will be more true!
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Re: Fresh wave of foreign buyers

Postby Mark1111 » Jul 31st, 2019, 6:27 pm

Phil Yuin wrote:You sure don't speak for me or anyone I know.
OKkayak wrote:Speaks for me and everyone I know.

Phil Yuin: maybe if you say it again it will be more true!


Maybe if I say it as well it will be come more clear for you Phil...Works for me as well.
If you want to test a man's character, give him power.
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