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A comment on Billions in 'unknown' funds flowing into Canada's housing market [video]. Parent comment

Re:Billions in 'unknown' funds flowing into Canada's housing... by vkou on Friday July 30, 2021 @03:41AM (#28005458)
> There is no way the prices are driven by domestic money.

How can you be so sure? With the way mortgages work, and the way people who bought starter homes ~10 years ago are more than capable of affording a downpayment on a bigger home, you don't actually need a large amount of domestic money for housing prices to be bid up into the stratosphere.

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Re:Billions in 'unknown' funds flowing into Canada's housing... by thevagrant on Friday July 30, 2021 @08:06AM (#28007057)
Where I live there are empty houses. Very few locals can buy $1m+ homes and be so lazy to even bother renting them out. I looked up ownership of some I noticed empty for a long long time and the owners appear to be a string of shell companies.
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Re:Billions in 'unknown' funds flowing into Canada's housing... by vkou on Friday July 30, 2021 @01:57PM (#28010552)
They may be a factor driving the prices up, but the locals being able to keep up through borrowing is why the prices stick.
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