Canada to ban foreigners from buying homes

Post by ch4s3 » Thu, Apr 07, 2022, 6:50 PM UTC

CountSessine wrote: post #174

boplicity wrote: post #88

> During last year’s election campaign, Trudeau’s party also proposed a ban on “blind bidding” for houses -- the prevailing system by which offers are kept secret when someone is auctioning a home. This is such a huge deal. Anyone who has had to go through the process of buying a home through a bidding war knows how unfair and one-sided this process is. It take a high-pressure emotional situation, and gives all of th…

You're fighting scarcity. You still won't win the bidding war - it just won't be as one-sided. Stop championing scarcity by blaming scapegoats. Either we limit Canada's crazy-high immigration rate (1% of population every year) or we build more homes which is mostly gated by illiberal zoning laws passed by municipalities. But both of these policies are very popular so you'll be swimming upstream, politically. While yo…

Post by heyitsanewacco » Thu, Apr 07, 2022, 6:50 PM UTC

macspoofing wrote: post #163

boplicity wrote: post #88

> During last year’s election campaign, Trudeau’s party also proposed a ban on “blind bidding” for houses -- the prevailing system by which offers are kept secret when someone is auctioning a home. This is such a huge deal. Anyone who has had to go through the process of buying a home through a bidding war knows how unfair and one-sided this process is. It take a high-pressure emotional situation, and gives all of th…

>This is such a huge deal. Is it though? I chatted with someone from Australia which has open bidding and you know what .. houses still went way over reserve. At the end of the day, if you have 20+ offers on a house, you're not getting that house without destroying your budget, no matter how you set up the bid system. The common sense change I wanted to see implemented was to prevent the waiving of a home inspection…

Post by ipaddr » Thu, Apr 07, 2022, 6:50 PM UTC

giobox wrote: post #59

Spivak wrote: post #29

Earlier quoted context omitted.

Weird, I know the left likes to blame the rich, but I’ve never seen specifically rich foreigners. Also for real how can the voters (ie the average citizen) be the problem? The average citizen has no money and no political or regulatory power. The average citizen just exists in a system they have no control over and responds to incentives. Hoping that en mass people won’t do that is like politely asking a river to mov…

Attacking rich foreigners for not paying enough to their adopted homes is fairly common throughout the world, no? America does make it harder to avoid paying tax with a system that taxes income regardless of which country you earned it in, but most of the rest of the world does not work this way. To use the UK as an example, attacking rich foreigners for their "non-domiciled" tax status is extremely common. This is w…

Post by noasaservice » Thu, Apr 07, 2022, 6:52 PM UTC

Post by Tiktaalik » Thu, Apr 07, 2022, 6:54 PM UTC

peepop6 wrote: post #28

loceng wrote: post #8

This is nothing but pandering for votes before an election for those who don't understand this won't have any significant impact on affordability of houses for Canadians. There's a reason why we still also pay the highest telecommunications bills in the world - industrial complexes have captured our government, and even it's far worse that that; regulatory capture. Edit to add: 3 points down to 0 points; downvotes ar…

I know this is probably naive thinking but I don't understand how we can have so much land and still have unaffordable homes and concentrated populations.