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Re:Canada to ban foreigners from buying homes
by dirtybird04 on Thursday April 07, 2022 @02:15PM
(#30948314)
The comment you're referring to blamed "capital flight from Asia" and "local or foreign millionaires". How did you get to "literally blaming Asians"? That's a pretty big jump there bud.
Also, capital from China must be at least an order greater than capital from all of Middle East combined. Not defending their decision not to do anything when your Arabs and Iranians were buying up real estate, just that it was a drop in the bucket and pretty easy to ignore. Chinese capital, on the other hand, is becoming cumbersome for quite a few countries now
Re:Canada to ban foreigners from buying homes
by chaostheory on Thursday April 07, 2022 @08:16PM
(#30951899)
As an Asian, I agree that embezzled money from China was a big problem, even in the big US metros, though I’m not sure it’s still a problem anymore even before this law passes. Why? China has been preventing capital flight for about two years or more now. I know several millionaires (USD) living in China either as citizens or expats and they all have the problem of not being able to legally get their money transferred out of China.
Re:Canada to ban foreigners from buying homes
by bdcravens on Thursday April 07, 2022 @02:15PM
(#30948318)
I didn't read it that way, but simply, that as a buyer in a popular city, it's frustrating to have to compete literally with the entire world. Criticizing a problem that has existed in the past doesn't make the criticism any less legit. In saying that the commenter should "blame themselves", as well as the other examples you provided, it sounds like you support their position that foreign real estate investment should be restricted. Selfishness isn't always bigotry.
Re:Canada to ban foreigners from buying homes
by Tiktaalik on Thursday April 07, 2022 @02:24PM
(#30948437)
The issue is foreign capital in general.
Due to history and geography, in Vancouver's case it's largely money from Hong Kong, Mainland China and the United States.
For London for example, it's from Russia and other places.
Money from Asia is being referenced because it's a concrete example.