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A comment on Canadian property bubble nears systemic failure. Parent comment

Re:Canadian property bubble nears systemic failure by voisin on Sunday March 28, 2021 @12:16PM (#26611528)
$1.85m student purchase. Sounds like a perpetrator rather than victim to me. They could have bought something or rented near the university. It was clearly a choice to buy in the GTA and tuck cash into “safe” Toronto real estate. Likely not the students themselves but their corrupt parents siphoning cash from China into Canada.
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Re:Canadian property bubble nears systemic failure by chrisdinn on Sunday March 28, 2021 @12:33PM (#26611679)
Canadian parents do this too, I’ve known several students whose parents bought homes to live in while they study. It’s not necessarily a naked investment ploy, it’s simply very difficult to maintain a certain quality of life for your children in rental accommodations. I’m not commenting on the ethics of it, just the suggestion it’s specifically a Chinese behavior.

Supply in KW is far more constrained that GTA. I bought here in 2019 after selling a Brooklyn condo and had to buy something under construction. There was nothing reasonable (ie didn’t need a ton of work) on the market.

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Re:Canadian property bubble nears systemic failure by lotsofpulp on Sunday March 28, 2021 @12:31PM (#26611667)
Why are the parents assumed to be corrupt?
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