Government Unveils Loopholes in Canadian Real Estate Foreign Buyer Ban 

Smart move. I’d leave if I could.

We are thinking to leave as well.

I know of 2 friends that did the same thing. Moved their family to Mexico. Enjoy

Mexico is good?

Is it difficult to move to Mexico?

construction labour rate will come down. it has been rediculous. this is the point of rate increase, fixing the over demand.

Labor won't come down until everything else does first

@@EmilyHamsterLover You can definitely find deals if you know what you are doing

Thankfully, The days of the crappy carpenter are soon over.

I am. Merida Mexico. I want to rise my son in a free and safe environment.

Yup. Planning to sell all my properties in 5 years and move to florida

@@truthteller6743 the wife and I are thinking Puerto Morales.

@@albundy9706 That is still Yucatan. Safe area. Merida is the second safest city in North America, right behind Quebec City. That however was before the Pandemic. Why that town? We know some Canadians that live near Merida. We are actually going to checkout Progreso, but anywhere near the beach is amazing. Nicest beaches in the world. My wife and I will start as snowbirds. Adjust life accordingly. Don't want to rise my 3 years old son just here. Too many brainwashed. I definitely want an escape spot. 6 months no visa is very appealing. Mexico was one country that never lockdown. It's my first pick. Looking elsewhere. Make our final decision in the New Year. Good luck and God Bless.

@@truthteller6743 I agree, selling in spring here in bc, using the funds to buy a home in Alberta and somewhere south. Not set in stone on where, but like you, near the water and warmth. I'll look into Merida as well. So many options

Yup, that's when appetite for mass immigration hits a wall. That will reveal the failures of Trudeau (I hope).

Time to only allow skilled and millionaire immigrants.

not wrong

Rates should never come under 10% so the savers can save for golden years. The younger generation should learn that money is not free. The house prices went sky high because of free money. Housing is a necessity not a business the governments of all so called Democracies made it a business with free money and now everyone is scrambling for the exits. Good luck guys. Buy only if you can afford it with your financial capacity not because money is cheaper.

:) 😀 exactly!

ahah - merry christmas

that would be smart policy

They come from South America, India, middle east and the Philippines where they were making $10 per day. Some people just don’t know how lucky they are.

Same to you!

why not 60%?

@@saretsky getting closer Steve 🤫

@@saretsky why overtightened now not 400bps ago？it is still negative real rate.

@@brianko5720 no, I calculated it using polynomial regression model, same as bank of Canada, how you concluded it is over tightened？grabbed from your ass？

Yes, let’s just import the rich. Some immigrants come from countries where they make less than $10 per day. Canada is still better than where they came from. Some come from countries where the government can seize all your wealth even if your a powerful billionaire so Canada is a perfect place to park money.

Are you implying this immigration policy is just a Liberal thing? If you think the Conservatives will change anything when they win the next election you will be disappointed.

@@Observer168 You mean like freezing people's bank accounts ? Some places you can live on $10 a day.. I think a lot will leave once they see how bad Canada is.

@@Calvin5150VH Canada is much better than other countries. At least you are free to become rich if you put your mind to it.

@@Observer168 Once we get rid of Trudeau.

You really think our government has any power? Our prime minister works for the “Crown”

Thank you Boney. Happy New Year !

@@saretsky Cheers buddy. And for the record, when I met you at Apple Greene and was surprised at how young you were, it's wasn't cause you "looked older" (you commented on how your grey's made you look older). I was surprised b/c you're so fricken smart! 😂

Exactly agree with you 100%

Agreed. This should be common sense.. if politicians actually cared about the working and middle class..instead of the rich, the investor class and rich foreigners looking to park their money into real estate.

@@hv3115 most politicians are investors or wealthy or get paid supplements from the investors to not drop them or the money laundering. Canada has the highest money laundering rates in the world. Until politicians crack down on all this and do stuff like parts of the US do and triple property tax on investment properties and properly track The investment properties and vacant properties not much will change. It’ll take Canada’s financial crises to create change and unfortunately that’s probably what we’re looking at in next 2-3 years

Do you also want the government to control how many children you have? We live in a free country!

the government makes huge profits from landlords when they sell their rental ...any profit made at the point of sale of a "rental" is taxed way differently than your own home where you live....they get a cut ! . ... so government is squandering your money and will never be your friend ...

Ottawa

@@tz7332 what you said yup

All of it 😂

Trudeau

Vancouver we call it HongCouver

Merry Christmas!

Yeah, right now they are getting workers because they think having more immigrants can keep the wages low. But what about the excess demand caused by having more people. I am not sure how does having more people will impact the goods inflation again, especially when there are still some supply bottle necks lingering. I don't think anyone really understands intricacies of economics, it's almost like trial and error.

debt servicing ratios will hit record highs in Q1. It takes 12-18 months for monetary policy to hit the real economy.

@@saretsky well if you took on debt that sounds like a you problem. (just speaking generally not you in particular).

They all share rooms. $500 per bed

Merry Christmas!

that's 100% NOT how things work lmao......another internet jenius at work

@@GreenBeanGreenBean we'll see who's the genius. Watch how it pans out for next 3 years.. 😄. Interest rates are not coming down that's for sure. You think bringing more immigrants is going to push prices up and save the market? If rents remain high than at some points immigrants will see that they are only salving away for someone else and are not gaining anything and will question why they should even stay in frigid temperatures to salve away for someone else. I think next 3-5 years will be period of stained down trend in housing for sure. Moreover I feel sorry for born Canadians, while immigrants will slave away even trying to get anywhere whereas a lot born Canadians will have to lose hope and turn to drugs which we are already seeing. Oh man don't know where this country is going..

@@parthppatel28 3 years is meaningless, real estate is a long term asset.....aka 10+ years if not forever. it's moronic fake pump and dumpers that think the real estate market operates like the stock market that make reading these posts highly entertaining and hilarious at how wrong you are. if housing doesn't go up for 5 years, THAT'S FINE......(as long as the people are well qualified and paying off their mortgage) protip: the high interest rates is making new supply go to 0 real quick, so in a few years there will be another megarun when interest rates invariably come down again and incomes are also higher as 45 million people fight over the SAME supply of housing as there is today.

@@GreenBeanGreenBean I'm not saying it's not okay if housing sits flat. That's totally fine that way but for next year we'll see slight downward trend on house prices to balance for these interest rate hikes and loss of affordability which it has caused. In this environment the genuine/end buyers who have to buy will buy cause they are in it for long term but the wise investors are going to stay out and are out. Cause why would an investor buy something he's going to lose value/equity on? Even if it has positive Cash flow, he'll lose that equity that he builds on a house. I'm not an investors but I'll take advantage to this market condition which had investors out and demand fallen by a huge amount as there are a lot of those greasy investors in Canadian real scam estate..

@@parthppatel28 investors are the ones actually putting up money to build new supply........end users do not. a minimal downtrend for a short time isn't something to bet on lol. most investors are long term thinkers, and this environment is indeed the time to be buying up good deals....because like I said 5 years from now there will be an even worse severe shortage than the last big run.....3-5 million more people will be here and the amount of housing added will be miniscule.

Same to you!

How many educated locals are willing to throw boxes at Amazon? Did you go to college or university just to throw boxes at Amazon? We need people to fill these jobs.

@@Observer168I did take 5 yrs univesity and Appraised Real Estate for banks, but laid off from my job I took the Amazon job temporarilty. You obviously dont know what its like to take a job you dont like, to get by..

@Sarrestsky crazy, gtf

the last five months annualized inflation in canada is 1.7% and 2.3 in the US...... boc and fed pivot coming in Q2 2023

It will not be a possible scenario. Tiff said the interest rates are going higher being that inhalation is at 6.8 percent. Tiff also indicated we have a way to go get inflation down to 2 %.

@@Paul-km8ko 4% of rate hikes barely brought down inflation 2% I would not hold my breath

​@@Paul-km8ko lol where did you get that info from? It's 6.8% last month

@@Paul-km8ko Seasonally adjusted, last month’s inflation was 0.4% MOM. That is 4.8% annualized. You seem to cherry-pick stats that support your beliefs.

Thanks for the support Ron. Happy New Year !

link?

Yes its only for major metro areas

yup, this is just the prelude, going to get much crazier than the normies think. We think we have come so far but really we're just the same as we were during all the other historic crises

Catch22, we need to collect more taxes to fund better infrastructure and services

@@Observer168 Gov't is the problem not the solution...you must live in Ontario...where everyone looks to gov't for solutions and keeps getting a lower standard of living as a result.

@@michael2275 I agree the government is extremely inefficient but people can’t expect services and infrastructure without paying taxes. Should we privatize all the education, healthcare, infrastructure and government services?

Trudeau importing votes ! Obvious!!

@@colbiecolbie6979 The “Crown” controls everything. Our Prime Minister works for the “Crown”. Learn the history of your country.

Some immigrants come from countries where they make less than $10 per day. Canada is still better than where they came from. Some come from countries where the government can seize all your wealth even if your a powerful billionaire so Canada is a perfect place to park money.

@@Observer168 i don't think "we're less abusive than your previous government" attitude is improving anything Trudeau is not a better manager than Modi.

@@nadeemamode most third world countries have very bad governments. If the country is not poor because of the the government then it’s the people .

@@Observer168 Most people who earn six figures in a developed nation, are 7 figures in debt. Dont kid yourself. Canada is broke but have enough "credit" to paper over the cracks. As soon as immigrants realise there are diminishing returns, its over for justinfrastructure trudeau. 🥊

@@nadeemamode That seven figure debt better be real estate otherwise you need to speak to a financial advisor.

Good luck finding nurses , doctors or people that are the worker bees of society if that's the scenario. No point in working hard to afford nothing .

@@hardipsingh2013 Higher salaries still give you a better lifestyle. Government just needs to tax more and pay healthcare professionals more. Fiscal policy is better than monetary policy.

healthcare professionals ?????? people still haven't figured it out yet, just follow the elite Morlochs...........willie

We will only step in when the firesales start.

You must be new here, welcome!

@@saretsky just making an obvious observation.